The question you ask is literally asking for our opinion on if one GPU is better than another GPU.
Now even if the community could answer this with a factual based with little to no objectivity, I would argue the question is still unhelpful, since there are dozens of websites that compare the benchmarks of both these cards. So even if the community were to reopen your question for not being opinion based (I definitely think your question is opinion based), it would be closed due to your lack of research.
Given all that, is 1650 better in video editing and render speed as compared to 6500 XT?
I rarely see questions that use the term “better” remain open. What is “better” is often in the eye of the beholder. How you get better “render speed” is well defined.
6500 XT renders video at very slow speed especially in Premiere Pro (maybe rendering is done by CPU and not this GPU. I'm not sure how it works.)
Sounds like the version of Premiere Pro you are using does NOT support hardware acceleration with the 6500 XT. Which is the reason the rendering is down with the CPU, and thus would be the reason with everything equal, a system with the Nvidia card would be faster at rendering.
The 6500 XT is indeed not supported by Adobe Premier Pro when it comes to hardware acceleration. Likewise, the Nvidia card is supported, so hardware acceleration would be supported.
For a reopen vote to be possible, from this user’s perspective, you would have to define what “better” is specifically and indicate what version of Premier Pro you are using.
Address the issues that resulted in your question being closed and I could see a path to it being reopened.