Not... quite. I think you've got the cause-and-effect backwards.
Programmers who happen to write multiple-threaded programs don't need powerful cores, they want more cores. A Blender programmer calculating cloth physics would rather have 4x weaker cores than 1x P-core.
Programmers who happen to write powerful singled-threaded programs need powerful cores. For example, AMD's "X3D" line of CPUs famously have 96MB of L3 cache, and video games that are on these very-powerful cores have much better performance.
Its not "Programmers should change their code to fit the machine". From Intel's perspective, CPU designers should change their core designs to match the different kinds of programmers. Single-threaded (or low-thread) programmers... largely represented by the Video Game programmers... want P-cores. But not very much of them.
Multithreaded programmers... represented by Graphics and a few others... want E-cores. Splitting a P-core into "only" 2 threads is not sufficient, they want 4x or even 8x more cores. Because there's multiple communities of programmers out there, dedicating design teams to creating entirely different cores is a worthwhile endeavor.
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> Does that mean if I can take a single-threaded program and split it into multiple threads, it might use less power? I have been telling myself that the only reason to use threads is to get more CPU power or to call blocking APIs. If they're actually more power-efficient, that would change how I weigh threads vs. async
Power-efficiency is going to be incredibly difficult moving forward.
It should be noted that E-cores are not very power-efficient though. They're area efficient, IE Cheaper for Intel to make. Intel can sell 4x as many E-cores for roughly the same price/area as 1x P-core.
E-cores are cost-efficient cores. I think they happen to use slightly less power, but I'm not convinced that power-efficiency is their particular design goal.
If your code benefits from cache (ie: big cores), its probable that the lowest power-cost would be to run on large caches (like P-cores or Zen5 or Zen5 X3D). Communicating with RAM is always more power than just communicating with caches after all.
If your code does NOT benefit from cache (ie: Blender regularly has 100GB+ scenes for complex movies), then all of those spare resources on P-cores are useless, as nothing fits anyway and the core will be spending almost all of its time waiting on RAM to do anything. So the E-core will be more power efficient in this case.