Yes, with regards to performance, AMD Radeon RX 7800 XT outperforms, Radeon RX 5500 XT by 308.5%.
The RX 7800 XT is more energy-efficient considering its peformance, consuming 263 watts to produce 3DMark score of 19839. By comparing its benchmark score to its power consumption, we get an efficiency score of 75.4. RX 5500 XT's efficiency score is 37.4, 101.9% lower, making RX 7800 XT the smarter choice in terms of power consumption.
When considering value for money, RX 7800 XT offers a better deal than, Radeon RX 5500 XT by 2.8%. Here is more in depth overview of the price and used prices of RX 7800 XT Price History and RX 5500 XT Price History