I don't like Pay2Win but I think it's necessary to a certain degree. The overwhelming majority of people who play on Minecraft servers are children. Children don't donate to support the server. They want perks and items. Servers have dev expenses, hosting expenses, builder expenses, etc. The few good samaritans who do donate probably won't be able to support those costs and allow the server to pay its expenses. That's why servers give out non-cosmetic perks, they appeal to children.
There's also a profit aspect. If servers didn't make a profit then large, fun servers like HiveMC, Hypixel, Mineplex, etc. probably wouldn't exist.