You'd be wrong. Athlon 64 destroyed the Pentium 4 and the Athlon XP model names were originally meant to be an equivalent to how fast the lower-clocked AMD cpu would perform to the speed of a Pentium 4 clocked at the same MHz as the model name.
Here's a top of the line Intel Pentium 4 3.46 Extreme Edition being unable to compete with AMD processors running at 66% of the clock speed of the Intel.