>While a clear win for AMD's Bergamo, it doesn't take into consideration other elements like power consumption. AMD's part is rated for 360W and can be configured up to 400W, while Ampere's has a TDP of just 182W. So yes, it may be 2.5x times faster, but it potentially uses 2-2.2x more power.
For 2 or 4 sockets per RU, you could be dealing with hundreds of kW per rack, and the heat that entails.
For certain deployments that could make sense. For others, a lower power, but still high core count solution could be better.
I think OP's point is that you'd need over twice the number of the lower density cores to get the same performance, thus by going that route you'd end up needing more power to get the same computational resources.
To put it simply, with ARM you'd need a 4U to get almost the same compute as a 2U of AMD.
Public cloud providers will sell you that amount of compute for about $50-$100 per day.
The lower end of that is the Ampere processor and the high end would be the AMD 128-core processor.
In other words, they can make $49 more by using the AMD CPU per day.