I'm not sure what physics you're using to get a COP > 1 for an induction stove. I'm pretty sure you could put a Stirling engine on that stove and have a perpetual motion machine. Most of them run about 80-90% compared to 30-40% for gas equivalents, about 2-2.5x more efficient. And this is with expensive, high-end cooktops.

I think heat pumps make sense to use when available, but that's kind of separate from electric heat sources. If you actually have to source your heat from the power source itself, it's cheaper to get it cookies.

I have a heat pump on my house, but there's also a high-efficiency furnace and its COP is over 90% combusting gas.