To summarize Intel's reasoning, the extra hardware (and I guess associated firmware or whatever it'd be called) required to manage hyperthreading in their P-cor

To summarize Intel's reasoning, the extra hardware (and I guess associated firmware or whatever it'd be called) required to manage hyperthreading in their P-cores takes up package space and power, meaning the core can't boost as high. And since hyperthreading only increases IPC by 30% (according to Intel), they're planning on making up the loss of threads with more E-cores. But we'll have to see how that turns out, especially since Intel's first chiplet design (the Core Ultra series 1) had performance degradations compared to their 13th Gen mobile counterparts