Individual benchmarks tell the bigger picture. These two are optimized for different use cases, with Apple heavily leaning towards low latency single thread throughput with low sustained power usage.
https://browser.geekbench.com/v6/cpu/compare/16833358?baseli...
EDIT: The M4 Max compares much more closely https://browser.geekbench.com/v6/cpu/compare/16834801?baseli...
https://browser.geekbench.com/v6/cpu/compare/16839304?baseli...
The M3 Ultra sacrifices a bunch of single-thread performance for not that much of a multithreaded gain:
https://browser.geekbench.com/v6/cpu/compare/16839654?baseli...