If you are referring to the all-core Handbrake efficiency graph then I'm not sure what's to complain about. The 12th-gen top-end SKUs perform far better while being roughly as efficient as the slower AMD parts, which is a clear win in my book. The 5700X performing well here is not surprising, as it's heavily restricted by the low TDP so in this all-core workload it might even remain under 4 GHz, also resulting in the lowest performance by far.
The situation is very different for lightly threaded loads (e.g. what PCs tend to do a lot of the time, this also includes most games).
For Handbrake the 12700K performs about 12% faster than the 5900X while being about 13% less efficient - I don’t think “perform far better while being roughly as efficient” is a fair characterization there - it performs better by about the same amount as it’s less efficient.
And the 5700X having low performance is taken into account by efficiency metrics - efficiency is performance divided by power draw, so whatever it in performance it more than gains in reduced power draw. (Of course, you might value your time more than your electric bill.)
I watched GamersNexus' 5800X3D review a few days ago, and the thing that stood out to me was their direct measurement of power draw on the 12V rail; it included a 120W result for the 5950X, and 240W (!) for the 12900KS. These parts are pretty comparable for the workloads I care about (compilation, mostly) but Intel's best part does the same job in roughly the same amount of time, for more money and twice the power draw. Is there something I'm missing, before I just buy the AMD for an upgrade?
The situation is very different for lightly threaded loads (e.g. what PCs tend to do a lot of the time, this also includes most games).