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Quick Answer
The Ryzen 9 7950X3D edges ahead in gaming by 3-8% thanks to V-Cache, while the i9-14900K wins in multi-threaded productivity by 10-15%. Both are overkill for gaming. For pure gaming, the 7800X3D outperforms both at half the price.
The Ryzen 7 7800X3D ($480 AUD) matches or beats both in gaming while costing $500-700 less. If you do not need 12+ cores for productivity, the 7800X3D is the smarter gaming purchase.
The 7950X3D is nearly twice as power-efficient during gaming.
Our Verdict
For gaming, the 7950X3D wins but the 7800X3D beats both for half the price. For productivity, the 14900K is slightly ahead. Neither is a sensible pure gaming purchase when the 7800X3D exists.