In my mind, SMT made more sense when core counts were low. These days, desktop use cases can more often run out of threads to run than places to run them. Server use cases can often run more threads, but it might not be useful to run 32 cpu threads if your NICs can only properly run 16 queues.
For computational tasks, I've seen SMT give a roughly 50% performance increase compared to not using SMT on the same machine. Much of that depends on how 'regular' the executions are. A highly optimized FFT or BLAS routine will benefit less than a sparse matrix computation, where part of the time is spent in indexing, rather than floating point operations.
https://www.techpowerup.com/review/amd-ryzen-9-3900x-smt-off...