Consider this:
Decoding a big fat X265 file on your 2012 MBP would be atrocious because it doesn't have hardware X265 decode, but decoding it on your XS would probably be fine.
The result is the same with my own crafted image processing algorithms using single core. Apple makes really fast CPUs.
How much has x86 performance increased over the past six years?
This ~1.5x in single thread performance improvement matches with stats from geekbench.com benchmark:
my macbook pro 2012 cpu: i7-3615QM => 3093 single thread [1] equivalent current gen cpu with same TDP (45W) and similar clock (2.3GHz): i7-8750H => 4617 single thread [2]
[1] https://browser.geekbench.com/processors/741 [2] https://browser.geekbench.com/processors/2144