The static leakage component of a chip is heavily influenced by temperature, when Hawaii's standard chip temps is 95C. I provided an example where the exact same Hawaii chip drew 28W less thanks to a drop in chip temps due to a change to a closed-loop cooler.
Static leakage scales in terms of the number of transistors, which Fury has 40% more of.
That means, assuming relatively constant process parameters, that if a 40% larger chip were pegged at 95C, even at the same dissipation level, it would have less actual power budget to play with than the smaller chip.
It could have cost the chip a speed grade or two, and likely would have tripped thermal throttling since Hawaii already has notable instances where its clocks get nowhere near the "up to" portion of its spec.
And then we see benchmark wins from AMD where some of them are about a speed grade or two away from being a loss.
I am curious to see where Fury's clock consistency goes with the air-cooled variant.