I´m just a mechanical engineer so my 2 cents are that the MS approach is pretty conservative when it comes to cooling, big ass Gpu which makes lots of heat build a big box around it with a good cooling system vents etc. based on the thermal exhaustion job done(I don´t mean that it is easy just that this approach is the norm). Sonys approach is to take the power consumption and build around that, they set a fixed power budget that may not be exceeded and if it gets exceeded due to tasks they reduce the clock and by that the power consumption, if it works it´s very elegant. Seemingly Sony went due to their cooling system(which we have yet to see) and their approach crazy on the Gpu clocks, which leads to a much smaller Gpu compared to the XSX while still not having a huge gap between both performance wise. That will surely make the Chip on the Ps5 much cheaper than the one in the XSX, the Gpu is almost half the size, and leads to a smaller form factor. If it works for both the performance should not be affected in any meaningful way.
He clearly doesn´t state that in any way that the power budget is too low to drive both at their respected targets, he stated that the power each component uses on a fixed clock is relative to the task and that it was difficult to anticipate the maximum power consumption and by that the worst case heat exhaustion. To fix that they set a power budget which may not be exceeded. He didn´t say that, that power budget isn´t enough to drive both at 100% of their clock speeds but he said that in case that power budget would get exceeded the Gpu would downclock a little bit to save Power and not exceed the budget, he didnt say anything as far as i can recall anything about the Cpu clocking lower for the Gpu to get it´s target.