Not to nitpick, but the fastest non-M 3 series is the M340, which has been tested to 3.8s 0-60 and can probably be leased for about the same as a Model 3 Performance. Disclaimer: it's my current daily driver.
The M3 is the more interesting comparison, and Elon specifically had the older one in his crosshairs vs. the Model 3 Performance trim. Based on various Youtube videos, the pre 2021 Model 3P seems to beat or match most of its competitors in various metrics at a significantly lower price. Would be interesting how the post 2021 Model 3P compares against the new hog-nosed BMW M3 and the upcoming 4cyl+electricmotor C63 AMG.
I'm actually scheduled to test drive a Model 3 this weekend so I'm curious how it will feel vs. the M340. I've never driven an EV before.