I don't think AMD will have any problem catching Intel's gaming performance if all they do is add the 3D Cache to existing Zen 3. They don't even need DDR5 to do it...
Its the MT performance that i'm looking at, a 5800X with 3D cache is not going to catch the 12700K in rendering and encoding, and while the 12900K is no faster than the 5950X 3D cache is not going to put it much ahead.
AMD's mindshare is very strong right now, they have stolen it from Intel, but IMO AMD cannot rest on that, they cannot allow Intel even an inch to take it back, so Zen 3D needs to be significantly faster at every tier, the 6950X needs to be 50% faster than the 12900K. Glue another 8 on it...