Different liter engines with same cylinders?

how is it tha when you compare a chevy 5.7 350cu v-8 that produces so many hp, against a 4.0 v-8 from a m3 that produces about the same hp? or how about a 5.7 350cu v-8 against a 5.7l v-12 on a lambo? or a 1200cc from a sportster against a 1200 v-4 vmax? what, do you get moe hp with more cyl, or is it a waste of materials for engines?