AMD Schedutil vs. Performance Governor Benchmarks On Linux 5.11 Shows More Upside Potential

As far as the power consumption is concerned, as reported by the AMD_Energy driver CPUFreq Schedutil and CPUFreq Performance tend to be quite comparable under load.

In some cases like Cpuminer-Opt where the performance governor was delivering better performance did show slightly higher power consumption, but that was usually matched by a boost to the performance-per-Watt to match:

Or similarly with the dav1d decoder: