Renoir has 8 cores,so the IGP is more TDP limited than in the Intel chip,as AMD went more CPU heavy. Intel went the other way with more GPU than CPU. So the Intel SOC,can dedicate more of its TDP to the GPU,etc so it will boost much higher. Its kind of telling Intel isn't comparing any of its own 8C mobile CPUs,to Renoir.
That is also assuming TDP/peak power consumption is the same for both.
There is also something else to consider,on the latest Intel 10NM SuperFin process(which is meant to have density improvements),the 4C Intel SOC,is the same die size as an 8C Renoir SOC at around 150MM2. So Intel doesn't really have a cost advantage - AMD can sell Renoir in both thin and light laptops,and also in laptops with a decent dGPU such as mobile RTX2060.
After all the CPU part,is literally the same in the new consoles(8 cores with 8MB of L3 cache).