BD has 15 stage pipeline, Zen 19. So probabily Zen FO4 is lower than BD's. But anyway, A12 9800 has 3.8 base and 4.2 turbo in 65W with 4 cores plus GPU. So 8 zen core plus 1024 CU should draw 130W. Discard GPU, consider the 28nm->14nm thing, and see that you have exaggerated your power estimation...
A12 9800 is has 2 XV modules. The equivalent of Zen 8C would be 8 XV modules.
Doing some ballpark napkin math, if 2 XV modules use around 50W to work at frequencies higher than 4Ghz and around 40W to work in a more efficient zone at just bellow 4Ghz, then this hypothetical 28nm equivalent would roughly use 160-200W. If you take this rough estimate and shrink it by 30% to account for 14nm transition, XV equivalent of Zen would use 110-140W.
This is where 2 more factors come in:
1. Zen has more processing resources, hence uses more power per clock. I'll take KTEs numbers and add 30-40W more, although since it's an absolute value it's not clear to me whether this ballpark value was considered relative to 28nm or 14nm.
2. Zen offers significantly more performance per clock, hence can be clocked significantly lower and still come out on top performance wise. This point is critical, because lowering frequency by 10-20% in a high performance product can easily drop power usage by as much as 20-40%.
So, time for even more dirty napkin math:
Best case scenario: (110W+30W)x0.6 = 84W
Worst case: (140W+40W)x0.8 = 144W
Average is 114W for a product with operating frequency somewhere between 3.2Ghz and 3.6Ghz.
Napkin math checks out, there's an operating frequency somewhere above 3Ghz where our fictional product will hit 95W TDP.
However, as The Stilt and others mentioned several times before in this thread, it all comes down to the 14nm process used by AMD being able to clock significantly higher than 3Ghz and still maintain it's advantage over the best 28nm has to offer. The billion dollar question is where does this advantage start to fall off, and this is where Zen may or may not run out of gas.