I agree on the out-of-/in-order commentary. But to paraphrase, with great performance comes great power consumption. http://www.anandtech.com/show/9330/exynos-7420-deep-dive/5

I perceive the situation on binary translation in a slightly different way. I think the aim here is to perhaps ensure that some legacy code written for x86/ARM also runs alongside the apps written for MIPS. So they are not trying to compete, but ensure they have a broad(er) ecosystem.