I expect the largest one of these is still a fraction the size of the largest mainframe, at least for processor power (e.g. 224 cores[0] compared to 1700[1]). Maximum memory, though, is 32TB, which isn't exactly huge compared to 12TB [0] or 24TB [2].
[0] https://www.supermicro.com/products/system/7U/7089/SYS-7089P...
[1] https://en.wikipedia.org/wiki/IBM_zEnterprise_System#z14 (Not saying they're necessarily equivalent in performance, but they might be, as you point out)
[2] https://www.supermicro.com/products/system/7U/7088/SYS-7088B...
That's my general impression, as well, but I have little enough (or inadequately broad) direct experience for that impression to be a strong one.
I've also seen, second-hand (i.e. benchmarks, so not quite real-world) that cache and memory latencies (including inter-CPU/NUMA) can significantly affect OLTP performance.
If that weren't true in practice, then the sheer bandwidth one can deliver from enough SSDs over PCIe rivaling a CPU's memory bandwidth would mean main memory size is much less relevant.
On the other hand, you can get rack-mount x86 server with several TB of RAM for fraction of price of mainframe which is exactly the hardware for new applications that would otherwise be best served by mainframe.