No, in terms of performance, Nvidia GeForce RTX 3050 is slower than, AMD Radeon RX 5700 by -34.2%.
The RTX 3050 is more energy-efficient considering its peformance, consuming 130 watts to produce 3DMark score of 6205. By comparing its benchmark score to its power consumption, we get an efficiency score of 47.7. RX 5700's efficiency score is 46.3, 3.1% lower, making RTX 3050 the smarter choice in terms of power consumption.
When considering value for money, RTX 3050 offers a better deal than, Radeon RX 5700 by 180.0%. Here is more in depth overview of the price and used prices of RTX 3050 Price History and RX 5700 Price History