RE: Am i missing anything.
With the same mufflers, both engines are about equal in power (the TT may actually make a bit more). The TH muffler is a large-volume unbaffled "tuned" muffler -- that is where the extra power comes from. For $15 you can buy a TH muffler & put it on the TT -- which will then easily match, or exceed the TH for power. The TT will start much more easily than the TH, is much easier to tune & is more reliable in flight -- never a flame-out (unlike the TH -- or OS FX/AX for that matter).
I use my TH .46 in "disposable" models (SPADS) for practicing tricky aerobatics -- I don't really care if it gets hurt.