I agree with you, but you are looking at from a technological PoV. What about the market? Intel and AMD are debuting their next gen laptop parts (LNL and Strix) very soon. Those will close the gap with Qualcomm. If the gap is too small then, consumers will feel no reason to buy a Snapdragon X device.
I am thinking about it from a market POV! You are crazy if you think Strix will get AMD's curve to match Qualcomm's. If it did, they'd be talking all about battery life, because that floor being 1/2 to 1/3 the power of AMD/Intel current gen and the rest of the curve giving a 20-40% performance gain is a huge energy efficiency advantage in addition to the lower idle power. So if AMD even cleaned up energy in ST by a substantial amount without cleaning up idle power (which, I think these are semi-related at a platform level anyways but) they'd still be running to the hills about that in the demo. And they have when they had advantages or improvements before, before someone claims "oh AMD doesn't talk about perf/W or GB6 composite ST" (LOL that's BS.)
Strix will have N4P (+5 or -10% power/perf respectively, at least for the chip alone, and these platform figures have much more in them that they have to fix) and probably some mild tweaks on it's side, and moving to 12C will most likely offer them some significant MT perf/W gains, but again, MT.
You have to actually think through this stuff instead of just assuming competitors will magically catch up. We saw the errors of magically expecting humongous gains just because of rumors, this lies in a similar plane.
What do AMD parts look like now? What do we know about AMD and what they've said about Strix at the conference? Not much about battery, not much about performance/W or energy either. The Asus demos claiming more performance at a given TDP are almost certainly both A) true and B) MT anyways which is unsurprising, moving to 12C will allow them to run at lower voltages with more cores for a given TDP (at least if it's high enough to where performance won't fall off, at like sub-10W they might have to disable a cluster).
But notice there's very little battery discussion and they sure as hell aren't going to show an ST perf/W graph or talk much about that - in fact the only ST info we really have concretely is a +5% ST in GB6 over the 4GHz X Elite.
Intel you are right though.
Intel at least showed a few things: LNC got 10-18% more performance iso-power with N3B vs Redwood on Intel 4, averaging about 12-15% I'd say, helped by both IPC and physical design changes and the node. Conversely looks like about 20-30% lower power at the same performance. That's core alone. What they said for the part itself vs previous gen is "similar ST at half the power" which, I suspect is referencing the peak ST of MTL or something from LNC. So the package/SoC is making a difference too beyond that 20-30%. It could also be referencing the LPE Cores being able to roughly match a P core at twice the power (taking the full SoC into account). Notice how they're talking about like SoC power or package power often.
Now again, it also depends on how they measured here and the power delivery/package part going down could take them even lower, but even then, if Intel is getting the same ST as Meteor Lake at 50% less platform power, it would put them in line with or even slightly lower than Qualcomm. I expect it to be pretty similar and Intel to switch out E Cores and P cores with the P cores doing worse below 5-6W (so you'd want to measure both).
But one thing you're missing about Lunar Lake, or two things really.
1) Intel is using N3B and a bunch of transistors, it's a 140mm^2 part + a 40mm^2 IO die on N6 (though we can excuse the N6 part I guess) and they won't even match an M3's ST perf/W curve, there is no way.
Qualcomm has a lower cost part, it's N4P (or N4, whatever) and a 170mm^2 die. We already see Lenovo Slim laptops for $1280 with 32GB of LPDDR5X and 1TB of storage with an OLED, or $1200 starting. Alternatively X Plus laptops with 16/512 and a nice 400 nits 2.5K LED display for $1099, which I seriously doubt you're going to find right off the bat with Lunar Lake, and by the time you do, the QC versions are going to be on sale or cheaper. If you want great battery life and responsiveness, QC will still have very competitive offerings even before Purwa.
2) Besides that, Qualcomm will *probably* give you more MT at pretty much any part of the 10-12C continuum. We don't know what LNL's MT is just yet, but the rumored + 50% in CB23 and GB5 at 17W (unclear if that really means PL1 throughout the test) doesn't really make me concerned, because A) QC/Apple stuff does better on CB24 after NEON support, and the performance they have over H units with more cores than the U units in CB24 is sizable enough.
With 1 and 2 in mind, Qualcomm has the only part that can compete with Lunar Lake and Strix Point both. If you want great battery life and ST + MT, Qualcomm has that covered and with a lower cost structure.