Not competitive at all. It's easily visible on the laptop lines, where the same GPU manufactured on TSMC has 3 times the power/performance ratio compared to the Intel one.

Putting more cores is just another desperate move to play the benchmark. Power is roughly quadratic with frequency, every time you fall behind competition, you can double the number of cores and reduce the frequency by 1.414 to compensate.

Repeat a few times and you get CPU with hundreds of cores, but each core is so slow it can hardly do any work.