If it's a similar number of transistors on a larger die then I can believe the power consumption is good. Less dense layout probably requires less design effort

If it's a similar number of transistors on a larger die then I can believe the power consumption is good. Less dense layout probably requires less design effort and may reduce hotspots. If Intel is getting similar performance from more transistors that could be caused by extra control logic from a 16-wide core instead of 32.