The architecture allows you to push the processor much more than AMD allows (they also injected 100W more to the 7950X compared to the 5950X). I think the obstacle is the voltage, lower at Intel at the same frequency. High voltage does not need power to destroy your processor.Intel just seem to be doubling-down on "we're faster, power budget be damned", with their GHz chasing. Isn't this the attitude that culminated in several years of terrible Netburst processors?
Intel can't keep pushing clockspeed without exponential power consumption - they're already bumping up against the physical limits of what top-end watercooling can (barely) handle.
Adding more L2 cache seems to have been the reason Raptor Lake is faster than Alder Lake. We need performance/Watt, not GHz, because we've reached the point where there are no more Watts available.
If you are worried about the consumption, manually set PL2 in BIOS or XTU.