As far as I am aware, the MSR is set to the intel's default ... and clearly Intel expects that if you are going to use this default, you will have a machine capable of delivering 100 Watts of power steady state.
Btw, I was looking at it and I don't think this is Intel's default. Intel docs say that the default is CPU's TDP. Rather, what I think is happening is that Apple has chosen an arbitrary large TDP numbers to remove all restrictions from the CPU, so that the thermals are the only limit. And since no CPU so far was actually able to pull that much power, this has worked well for them and gave them decent CPU performance.
However, they most likely "missed" the fact that Coffee Lake (and i9, particularly), can draw 100W or even more, which is well beyond what the power system can supply. If my guess is right, this is just sloppiness. Not the first time it would happen... Fortunately, its not difficult to fix. They can set the limits to what the VRM can handle (Apple probably knows it better), which should fix power throttling and make the performance more consistent. I sincerely hope for a quick patch.