[Lapha]

Both companies are juicing up the default power limits which absolutely matters if you're concerned about total Wh for sustained loads, thermal considerations, PSU rating, noise, etc, as you mentioned, but to be fair to AMD here they've released an eco mode on the 7000 series which does lower the default power limit quite substantially. You could do this before with manual adjustments to voltage and clock speeds, but now it's a simple toggle.

Another point is that in terms of power efficiency AMD are absolutely mopping the floor with Intel, where even older high power R9s are consistently outperforming Intel's lower power i5 and i7s by a wide margin. This sort of discussion is often left out of reviews which only look at TDP or peak wall power. It's still not ARM levels of efficiency, but x86 vs ARM or even desktop vs laptop efficiency is an entirely separate conversation.