You're comparing Apples to Oranges, the clock dropped between gens with efficiency gains. The proper comparison is the 2 TB Port 2020 13" MacBook Pro, which slotted into the lineup directly above the 2020 Intel Air. It started with a QC chip that was only clocked marginally faster (1.4ghz to the air's 1.2ghz) and actually had (slightly) worse single core geekbench benchmarks (I believe the Air's chip turboboosts more). Its multicore benchmark was roughly 30% better though, mostly because of vastly better cooling. That's about the advantage I'd expect to see with a 14" MBP with a M2P/M3P over a 15" MBA with a M2P/M3P - similar burst single core speeds, much, but not absurdly so, better sustained workload and multi-core speeds on the 14" proThe Core i7-1060G7 in the 2020 MacBook Air offered fairly lower-performance than the Core-i7-8569U in the 2019 MacBook Pro 13" due to having 33% of the base clock speed and 80% of the turbo clock speed.
Of course, Apple could do something similar by dramatically lowering the clock speeds of an "Air" Pro SoC and/or disable more CPU and GPU cores (perhaps offering 4E+4P CPU and 14 GPU on the Air compared to the 4E+6P and 16 GPU in the MBP).