Holding a 50w heater and a 50w powerhead would be completely different without a doubt. It's the materials used that make all the difference in the heat be dissipated. The heater uses metal which heats easily and glass which also heats easily. A powerhead, however, uses plastic which act more like a heat sink and dissipates the heat over the entire unit. By the time the heat from the powerhead makes contact with the water, there is very minimal heat transfer by then. If you want a prime example, run a powerhead out of the water for a while. I guarantee you it overheats and the motor block malfunctions. Same amount of energy used, however, both are going through different materials. One was designed specifically to expell heat quickly where the other is designed to move water and have the heat created disspate throughout the body of the unit and avoid rapid heat emissions.
This could be proven in an experiment, however, it would not be so easy to setup. You could have a bucket with a heater and a bucket with a powerhead. However, the powerhead causes the water to circulate and would produce more contact with the outside air, so you wouldnt be able to measure the amount of heat as easily.