maybe the following graphic will compliment machin´s exellent post.
it´s fom different BMW road car engines, so not 100% relevant to the topic, but perhaps it helps to visualize the underlying problem.
if you compare the "power curve" of the old V12 engine with the "power curve" of the V8 twin turbo you will see two interesting things. The old V12 has a higher peakpower and both have app. the same max torque (600Nm) output.
The difference is that the V8 twinturbo has his torque over a much wider rpm range and therefore has also more "power" from 1500-3500 rpm, then from ~3800-4500rpm both angine produce app. the same power, as they make app. the same torque in this rpm range.
From ~5000 rpm onwards the V12 would have the upper hand, making more "torque" and therefor "power" until ~6500rpm.
This example is a bit simplified, to the matter at hand, as both engines operate in the same rpm range (band). Under this condition, the engine which produces for "torque" for a give rpm, will also produce more power.
But I hope it goes some way, to explain the basics of the discussion.
Expressions like "more power" or "more torque" are a bit vague to desribe a dynamic process. As you see in above example, both engines make the same " max. torque", but the turbo engine will do so for much longer, therefor it has an advantge when operated in the 1500-2500 rpm range.
Which engine is better on the track, will depend from the track characteristic and the gearing (assuming for the moment, we talk about the same car in terms of aerodynamics (drag) and weigth).
In this specific case if we see the "power output" over a range from 1500-6500 rpm, both engines are quite evenly matched (app. same area under the power curve in the range from 1500-6500 rpm), so it will come down to, which engine spends how long at which rpm (gearing & track characteristics) to see, which car maybe has an advantage overall.
Just as a side note:
Looking at topspeeds, is maybe not conclusive as well, because two cars could have the same topspeed, but on could be much quicker down the straigth, if it reaches his topspeed much earlier.
As an extreme example lets consider two cars on a straight which is 6km long, both reach an ultimate speed of 320km/h but one reaches the speed after 3.8km the other after 5.8km.
You can calculate for yourself, how much quicker(laptime wise) one car is over the other.
At the moment it seems, that the Diesels have an advantage in LeMans, but to say it´s all down to there higher "torque" jumps maybe a bit short, to get the overall picture.