[bombcar]

But if we're dreaming, we can have the backplane be actually multiple (Nx thunderbird 5 cables connected each slot to all other slots directly).

Then each device can be a host, a client, at the same time and at full bandwidth.

[jasomill]

If every device is directly connected to every other one of n devices with Thunderbolt cables, each with its own dedicated set of PCIe lanes, you'd be limited to 1/n of the theoretical maximum bandwidth between any two devices.

What you really want is for every device to be connected through a massive PCIe switch that allows PCIe lanes to be connected arbitrarily, so, e.g., a pair of EPYCs could communicate over 96 lanes with 32 lanes free to connect to peripheral devices.