Yes, with regards to performance, Nvidia GeForce RTX 4070 outperforms, GeForce RTX 3070 Ti by 20.3%.
The RTX 4070 is more energy-efficient considering its peformance, consuming 200 watts to produce 3DMark score of 17846. By comparing its benchmark score to its power consumption, we get an efficiency score of 89.2. RTX 3070 Ti's efficiency score is 51.1, 74.5% lower, making RTX 4070 the smarter choice in terms of power consumption.
When considering value for money, RTX 4070 offers a better deal than, GeForce RTX 3070 Ti by 10.0%. Here is more in depth overview of the price and used prices of RTX 4070 Price History and RTX 3070 Ti Price History