You can't directly compare hashrate. They're two completely different hashing algos.

There are different advantages to ASIC resistant mining.

ASICs can't match the ubiquity and accessibility of CPU mining. No additional capital investment required. Anyone can start mining.

Simply buying an ASIC makes you stand out. No doubt what it's for.

Heat, noise, and energy draw make ASIC mining stand out.

Last part you're conflating supply and value. Something can have less supply, but be less demanded, therefore less scarce/valuable.

Ease of production (an appeal to labour theory of value - "how hard or easy I worked to create this thing gives it value") or supply alone doesn't determine value.

"Police raid a concealed #Bitcoin mining operation, initially mistaking it for an illegal marijuana farm due to the heat signature"

https://xcancel.com/BitcoinNewsCom/status/1721359382745874489