All depends what you are doing with the VMs, the number you run and what hardware you need to pass through. IOMMU grouping can be royal PITA on desktop boards, so motherboard choice is pretty important. Linux works pretty well with ecores, they are just dog slow and there are never enough of them. The reality is AMD and Intel are in different leagues in terms of efficiency and even with Pcores turned off. There simply isn’t an efficiency argument to be made.
If you’re looking for an efficient system just to run a few VMs by day and use the system for gaming at night the 7800X3D can be a very good option especially in term of performance per watt but, it is a little limiting at a point and that’s where the 9950X3D comes into its own. If you’re doing more serious work then Threadripper or EPYC will beat the snot out of any desktop system in all metrics. I personally jumped to EPYC a few years ago and haven’t looked back. Not cheap, but will comfortably do everything it says on all the tins.