No surprise there.
Intel is doing now with CPUs, what AMD was doing with GPUs (to keep up with Nvidia). I.e: Large increases in power draw compared to past gen, to get a bit more performance. It was a desperate act for AMD to do in the past to keep up with Nvidia (not the case anymore though), and now Intel is doing the same desperate act to keep with to AMD.
The problem here is, however, that when AMD was trying to stay competitive with Nvidia, AMD was selling their video cards for same or less than Nvidia's (performance being equal between the two). Meanwhile, Intel's processors, being inferior to AMDs, are mostly selling for more than what AMD is asking for. And if you take the total-cost-of-ownership of a CPU into perspective, including the electricity cost, a cheaper to buy Intel CPU (not that many - mostly low end) becomes more expensive because of the need to pay for the extra electricity to power them over their lifetime.
Intel is hurting. It will take them another ~3/4 years to catch up even if they throw ton of money at the problem, because AMD isn't standing still. In the meantime, buy some AMD shares and sell them when it look like Intel is about to come up with something competitive....maybe 2024/2025