Intel can match or outperform Zen 5 in many benchmarks (X3D still trashes them in games) and are trading blows now, they just have to use double the power envelope to do it.

Arc and Battlemage are not very competitive designs with AMD going off die size and transistor count compared to the performance numbers they're posting. Battlemage pricing however is quite good on price to performance, but again suffers from efficiency where AMD has them beat by quite a margin.