Let me make this clear. At the track, you do not race HP numbers, you race ET numbers. HP numbers are "raced" on a dyno only. It doesn't matter how much power you have, what matter is what ET you run.

The argument of which is better - NA or turbo - is dumb at best. They are just two different methods to achieving an ET.

However, if you take a serious look at motorsports that run gasoline fuel, you will see that turbo cars dominate the unlimited classes.
When F1 was unrestricted in the 90's, they top cars were all turboed.
Rally cars, limited in engine size, are all turbo in the premier class.
Outlaw 10.5 cars are dominated by turbo cars now.
If NA was the advantage, turbos wouldn't exist in any of them.

So, why did they go turbo? It's simple. Turbos provide a lot of power per dollar, and traction is what is hard to find, not power.

If you had a power limted class, with unlimited cubic inches, THEN an NA car would dominate. The only reason for that is because NA cars develop a more linear powerband than turbo cars - generally, thus supplying more power as an average through the power band. Again, that is a generalization, but usually true on cars with the equivalent amount of hp.