With some pedestrian speed DDR4 vs fairly high performance DDR5 the 14th gen takes a bit of a hit but it would still keep it above the AM4 platform:
With some performance DDR4 the performance impact is relatively tame:
If you are running like 6000-6400MT RAM like a lot of people and reviewers are with the 14th gen the difference is even less contrasting - this review with 6000MT for example:
Intel Core i7-14700K is the only processor released today with an upgraded core configuration. Thanks to an additional four E-Cores, more cache and a 200 MHz frequency bump, the 14700K reaches performance quite close to the 13900K, at much better pricing.
www.techpowerup.com
The 14700K would have to lose a horrendous amount of performance, which is doesn't, just to fall to parity with the chips like the 5950X - with reasonable performance DDR4 RAM it is still going to be faster. It is probably the 3rd fastest on DDR4 and definitely a better option than the 13900/14900K in most cases.
Sure if someone is already on the AM4 platform it doesn't make much sense to go to the hassle of switching.
EDIT: Dunno the validity of this video but closest I can find to a 14700K comparison:
It meshes with information on other sites that have some authority.