Premiere tries to use the CPU as much as possible by going full 100% utilization. The problem with throttling is that there's a severe penalty if you do hit the temperature threshold.
Final Cut keeps it under 100% cpu utilization (either that's intentionally done in code, or simply because it's being offloaded by GPU, not sure). Even without full GPU acceleration, Final Cut would still likely complete a render vs Premiere. Just compare the throttling dips. First is Final Cut, and second image is Premiere.
Not sure if people were expecting Macbooks to be able to withstand 100% CPU utilization for hours. If you were, then the past couple of generations have had the same issue.
The only thing surprising is that the 2018 ended up being slower than 2017 laptops. One explanation is that Premier/Final Cut have 2017 Macbook specific optimizations and they're still working on optimizing it for 2018.