Power 7 had higher single threaded performance than anything Intel had when it came outIBM Power 795 (4.25 GHz, 128 core, SLES) 5350 base, 512 threads -> 2.46 result/thread/GHz
The Power 7 came out in 2010, so we can look at the x86 that were available around that time - the Nehalem era; e.g. this one
IBM BladeCenter HX5 (Intel Xeon E7540 - 2GHz) 490 base, 48 threads, 5.10 result/thread/GHz
For AMD, this one I picked turns out better than Intel:
IBM System x3755 M3, AMD Opteron 6134 (2.3GHz) 638 base, 48 threads, 5.78 result/thread/GHz
The Power 7's single-threaded efficiency is less than half that of competitive x86 CPUs at the time. The TDP is 200W+ as well - around double that of the x86s which are ~100W - so power efficiency isn't that great. The high clock frequencies probably have something to do with it.
In theory there isn't anything preventing an ARM-64 chip from having performance as good as an x86 or POWER chip
True, but as the paper I linked suggests, power efficiency is going to suffer if they're optimising for raw performance. There hasn't really been aggressively high-performance ARM chips before unlike the other traditional RISCs (SPARC, POWER), so that's why I'm really interested to see what AMD does with it.