Not really. Apple already uses the AS SoC in all their gadgets for years, not just starting with 5nm in 2020.
The issue is that AMD and Intel (and the entire industry) has always thought (as least that's what I think) of power efficiency as an after thought, because consumers accepted this fact, until the AS Macs came out. You can engineer to either extremes or you can try to strike a balance. Engineering is always about trade-offs.
Many have been saying that AMD's latest Zen 4 CPU caught up with AS in power efficiency. But many forgot that the CPU/SoC is just one part of the entire package. If Zen 4 CPU pairs up with SODIMMs, they will be slower and consume more power. Then there's the dGPU to make the graphics good, and yet more power. At the end of the day it is how the entire package is designed and built, and that I think is what Apple excels at, and I would say they are getting better at it. We'll have to wait until actual product using the Zen 4 solutions to see if the industry has really caught up to AS Macs in terms of power efficiency.