But then I looked at the power consumption of the consumer grade HDD disks. 4 disks would add between 10 and 14W at idle and between 16 and 20W in operation, and suddenly the advantage of the arm based computers in power consumption is less striking.
Moreover you can find on AliExpress N100 mini-pc for 120€ with 16gb RAM and 512gb SSD. Aliexpress is risky but it was much less than the RPI5 with 16GB RAM or just a bit more than the raxda 5C 16GB , both without drive, case and power supply. And the raxda 5C would have been also bought in AliExpress so no almost as risky as my N100.
At the end, for cheaper to buy and not too much more expensive in power consumption I went with the mini-pc. I lost the possibility to use extension cards, especially the one that allows to connect up to 5 HDD, but a 4 port USB HDD dock proved sufficient for my needs.