Minimum specs is exactly that. It's the minimum PC specs to be able to start the game and play it. The industry standard for min spec would likely be something like 30FPS at 1280x720 (720p). It just means that if you have that level of hardware, the client will be able to run. It doesn't necessarily mean that it will be an enjoyable experience.
Recomended specs on the other hand, are typically the minimum required to achieve 60FPS stable at 1920x1080 (1080p),
And look at how 7 Days' specs compare to those of some other games.
Minimum
7 Days
Rust
Ark
CoD:MW
GTA-V
CPU
2.4Ghz Dual Core
i7-3770
AMD FX-9590
i5-2400
AMD FX-8320
i3-4340 or AMD FX-6300
Core 2 Q6600 @ 2.40GHz
RAM
8 GB
10 GB
8 GB
8GB
4GB
GPU
2 GB Dedicated VRAM
GTX 670 2GB
AMD R9 280
GTX 670 2GB
Radeon HD 7870 2GB
GTX 670 / GTX 1650
AMD Radeon HD 7950
9800 GT 1GB
AMD HD 4870 1GB
Minimum
7 Days
Rust
Ark
CoD:MW
GTA-V
CPU
3.0 Ghz Quad Core
i7-4790K
AMD R5 1600
Who
i5-2500K
AMD R5 1600X
i5 3470
AMD X8 FX-8350
RAM
8 GB
10 GB
Needs
12 GB
4GB
GPU
4 GB Dedicated VRAM
GTX 980
AMD R9 Fury
Specs?
GTX 970 / GTX 1660
AMD Radeon™ R9 390 / RX 580
GTX 660 2GB
AMD HD 7870 2GB
And if I'm going to be totally honest here, current min spec should be 4GB dedicated VRAM, and recommended specs for 7 Days should read a CPU 3.8GHz hex core, 16GB+ RAM, and 6GB dedicated VRAM on the GPU. It likely won't be changed though, as there is a lot of optimization that is being worked on which will bring it back down again.
What I can say is that our min specs should read more like Rust and Ark does with the details on the CPU and GPU. Ark kind of falls short though in that they don't give Recommended specs anywhere. If I had to guess I would say i7-4770k, 16GB RAM, and a GTX 960.
Also note that I only put GTA-V in here because every single freaking time someone complains about FPS, they use it as a reference for their potato. Never mind that it released as a finished game three years before this one even started development, and it's not even a Voxel game.