It's higher bandwidth than any dual-channel DDR5 desktop machine, but Apple never quote the memory latency, so hard to compare otherwise.
Extremely high bandwidth is great for copying data, but not as relevant for walking chains of pointers, where latency/cache/TLB entries are more important.
So just saying "high bandwidth == better" is true when other variables are the same, but they rarely are, especially in comparison to x86-64 offerings.
All of these are independent that it is a SoC with on-package DRAM.