MSI has upgraded the Modern series of laptops with new 11th gen Intel Tiger Lake processors and the NVIDIA MX450 discrete GPU. The Modern 14 and Modern 15 now come with improvements such as Thunderbolt 4, faster RAM, 52 Wh battery across all models, and optional True Color 3.0 displays with 100% sRGB coverage.
https://www.notebookcheck.net/MSI-seeks-to-redefine-everyday-computing-with-the-refreshed-Modern-14-and-Modern-15-featuring-Intel-Tiger-Lake-and-NVIDIA-MX450-graphics.491562.0.html
The Core i7-1165G7's Iris Xe with 96 EUs does come close to the MX450's performance
So either the Iris Xe is either a lot weaker than the MX250, er MX350, er (are we really calling it the) MX450, or MSI just wants to keep your private parts extra toasty for some reason.
I can't wait to find out the truth. I sure hope the Xe isn't 95% as fast as the MX450. That would be such a stupid decision to include the MX450 just as a checkbox item. Especially since it adds a decent chunk of weight and heat to the system.