Porsche design from the point of view of aesthetics has never been near Ferrari's. When Ferrari produced the beautiful 308/328 series Porsche had the agricultural looking and sounding G series. Even Ferrari race cars looked beautiful in those days, 330 P3, 250LM etc.
Ferrari design started going down since the Testarossa and the 348, I think. The front engined designs in general have been really attractive and some still are.
So, it a matter of Ferrari not keeping up and advancing their design language rather than Porsche being behind.
Some Porsche models compete against Ferrari on the road and in real life but never in the showroom. Having said that I find the 718 series good looking and the Panamera a very unique design for a 4 door limousine with lots of presence. The 992 has been designed outside the tradition of the lithe and nimble looking 911, which is a very wrong direction IMO. Nevertheless it still sells
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"Porsche....and Nothing else matters"