Exactly. People dumping on these results are missing the forest for the trees. What people should be looking at is the performance, not the power usage. It doesn't matter how much power you dump into a Zen3 CPU, you aren't going to match the single threaded performance of the linked 12900k results. Then you have to look at the flip side. If Zen3 can't reach this level of performance, then to level the playing field, you have to slow down the Intel CPU. If you lower the clock speeds of the 12900k to reduce performance 24% and equal Zen3 results, then how much power is the 12900k using? I bet we'll find the efficiency is pretty similar at that point.
Again, missing the bigger point. A 16 core/32 thread AMD CPU is losing to an Intel CPU using only 8 hyper threaded large cores and 8 smaller non-hyper threaded cores. 24 threads are beating 32 threads. The leaked specs of the 12900k have shown a 228W PL2 and all core boost of 5Ghz. That would mean that this particular 12900k overclock took a massive 102W (45% higher)to increase clock speeds of the 8 large cores by only 200Mhz (4%). That's a horrific trade off that no one should be doing on an every day PC. Knock less than 4% off the 12900k multi threaded results and then compare 228W to 200-230W, and AMD still wins, but it is no longer a blood bath in the efficiency comparison. No matter how much power you use, you're not going to be able to overclock a 5900x with 12 large cores to equal the performance of a 5950x. Up to 16 threads and Alder Lake is going to have a pretty significant lead vs Zen 3 which is what should matter to most people here but is getting missed by the crowd ROFL'ing at the 330W headline.