Package power doesn't stay that much different from TDP. Unless you put that 12900HK processor on an unlocked BIOS with can force that P0 state indefinitely with overclock to boot under full load (maybe in laptops that are like 1.5 to 2" thick like those Eurocom laptops), but for apples to apples comparison, a similar multimedia laptop with that chip and its package power under sustained load will definitely throttle to either base speed or 0.1-0.3 GHz above it (pegging its package power to ~45-50W) and now it's a lot slower than M1 Max at full sustained load (with the assumption that M1 Max can run at full speed indefinitely). After looping Cinebench for 100 times, you can see how much performance degradation that Intel chip has (maybe 15-20% down) compared to M1 Max which would still be the same as the first test (no thermal throttling)