In multi-threaded tasks the 12700 is just shy (~8%) of AMD's Ryzen 5900x on average, and a bit faster (~16%) in single threaded tasks. Cooling it is easy, and for most users the included stock cooler will actually suffice in most tasks - although it does run a bit noisy.
With an expected retail price of ~$350, the i7 12700 packs a great value - especially when paired with a b660 motherboard. It's crazy to think that for the price of a 5900x, you can get this CPU and a motherboard