Does anyone really care though? Do people really make their purchasing decisions based on the power draw of the CPU or system, at least at the top end of the market? Once you've built a full system including a heavyweight GPU, the additional draw of the CPU itself will be diminished.
In reality, the power draw and process node differences are just being seized on by the AMD fanboys to beat Intel over the head with.
Define "competing"?
Intel are still faster for gaming, even with the current 9th gen CPUs and will only stretch their lead with the 10th gen. Maybe Ryzen 4000 will change that but it's a total unknown right now.
Again, the AMD fanboys always seize upon the "productivity" benchmarks but, for the majority, these are meaningless. For standard desktop applications, pretty much any modern CPU is more than good enough and, whilst Ryzen murders Intel when it comes to things like rendering or video processing, these are only used by a tiny percentage of users.
For the vast majority of people, gaming is the only performance intensive task they run and Intel are still faster.