Is this an example of where x86 is, essentially, "wasting time" compared to ARM - by doing unnecessary stuff?
Well, it surely needs to decode one instruction more. Whether it will run slower is hard to say, the first two instructions can be decoded in parallel and executed in parallel and only the CMOV needs to wait for them before executing. The MOV will use some resources while it is in progress, perhaps those could be spent on other instructions, if there are other things that could be done. Thanks to register renaming logic, the MOV probably will not create a pointless copy of ESI value, but it will flip a bunch of transistors in the renaming logic and use some power.
I have almost zero experience with ARM, but off the top of my head there are several differences between the two which may affect performance:
ARM has three operand instructions - the result can be written to a third register which is neither of the source registers
X86 has two operand instructions - the result typically overwrites one of the inputs
X86 can encode memory load and arithmetic in one instruction, ARM needs two instructions for that
X86 has variable length instructions and some common ones are very short
ARM64 doesn't have variable length instructions and is easier to decode
I don't know how real world code density (bytes per actual work done) compares between these architectures, and this too can affect performance because of more or less "work" fitting in instruction cache.
Turing completeness doesn't buy you much. Brainfuck is a Turing complete programming language with only two arithmetic operations - increment and decrement. If you try to make a CPU that way, good luck.
The ultimate proof is in the pudding. Which laptop will be the fastest to compile a million lines of C++ code and to do so without catching on fire?

That’s just more unsubstantiated speculation.
It's very substantiated, by Apple's own documentation. The protocol is easily backdoorable. If you trust Apple, and Orange Fascist's government and its spooks and the secret courts and gag orders, and Apples employees, and their internal procedures to prevent abuse by said employees, and the foreign spies working there, good for you. As far as I'm concerned, it's a gimmick and a marginal improvement over any other system like that. By far the biggest real world threat is passive network interception and plain old TLS takes care of that.