Typically the H versions of MTL would run at 28w sustained and the U series at 15w sustained. For short term loads of what has typically been 28 seconds or less they can run more. There can also be exceptions like in mini pcs where higher TDPs are chosen.Nice try. 165U, 155U, 135U, and 125U all have a max turbo TDP of 57W, and maximum assured power of 28W (what they used to call "configurable TDP-up"). The "U" chips from both companies can be directly compared. You have to check what specific devices are running out of the box, can be changed to, and are capable of cooling, but these are obviously the same class of chip, except for Intel kneecapping the graphics and potentially using more power.
Now Intel has two more SKUs: the Core Ultra 7 164U and Core Ultra 5 134U. These are probably the models that have LPDDR5/x memory integrated on the package. They have a 9W TDP and 15W cTDP-up, but still have a max turbo TDP of 30W.
Regardless, if one checked the TDP of a MTL chip and it were a chip made for 28w, like an H series, and it were running at 28w then it would be comparable to an AMD chip designed for 28w running at a TDP of 28w.
So long as the intended and actual TDPs are the same then it is a fair comparison.
If you were to compare a 28w U series AMD chip running at a TDP of 28w to a 15w U series MTL chip running at 15w TDP then it wouldn't be a fair comparison, even though both chips were U series.