I wouldn't think ST would matter too much. Now, MT perf/W... yes. And I would expect them to be using it for far more than just their light tiers. Application serving, I'm sure they are using some sort of distributed database, memory caching... would be better off using the 1540 compared to Intel (or anyone elses) traditional server type products.
You would be wrong thinking that ST wouldn't matter too much. This is not really a great fault in your thinking, because many have made the exact same mistake before. This all goes back to Cray's great line about the 1000 chickens and Amdahl's law.
The problem is really expected response latency. While an infinite number of slow cores could theoretically serve an infinite number of users, it is highly unlikely to serve any of them at a reasonable latency. At a maximum, companies and people do not like a perceived response time greater than 1 second. Realistically, you want a perceived response time much less than 1 second, and of course that 1 second includes both sides of the transaction, and all communication latency. As such the acceptable response time on any given part of the transaction is significantly less than 1 second.
Then you have to factor in the actual software stacks, etc. The reality is that ST performance really does matter, even on the light tiers of an application infrastructure. Though you don't have to take my word for it, Facebook has said as much wrt their experiments with lightweight/microservers.
As for why the 1540 would be restricted to the light tier, that mainly an issue of scale. For places like facebook, the majority of their application/db tier is handled by moderately high end DP XEON systems. This is both because they have significant frequency advantages (upwards of 50%), significant concurrency advantages (upwards of 4x the processors), significant interconnect advantages (upwards of 40-50x), and significant capacity advantages (upwards of 8x(memory) to 20x(local storage)). As an example, the MS (I know this node better and its probably the best design out atm) DP Xeon node supports up to 1TB of memory, 8 M.2 4x PCIe 3.0 SSDs, and 8 in packaging HDDs. In contrast, the 1540 nodes that people are putting together generally are composed of 32-128GB of memory and 1-2 Sata based SSDs. As such the DP Xeon nodes allow significantly more in memory work, and the caching of significantly more of the total DB. This makes it significantly easier on the programmer to get sufficient performance and throughput.