[1] can be overcome via caching and other considerations, but purely from this aspect the impact is this. [2] Longer traces lead to higher capacitance, and the power estimation formula P=C(V^2)f*a shows that this one aspect will change power use. Everything on one die means less parasitic capacitance. [3] If the defect density is the same, and if you have 10 errors per wafer, then you will see different yields if you make 10 vs 100 vs 1000 chips on that wafer. Chiplets are smaller than monolithic designs, so we can put more of them on one wafer which improves yield independent of process

The AMD compute dies are only connected to the IO die and other compute dies (and power). All IO connections exclusively go through the IO die, so the IO die can be customized to change the IO of the CPU without changing anything about the compute dies. It would be entirely feasible to just re-spin the IO die to add support for different memory, Thunderbolt or other IO ports. The IO die is also made on a cheaper, lower-density and performance process (14 nm / 16 nm) than the compute dies (7 nm).