This is just a personal opinion, but I don't think those two cars compete. The M3/M4 are explicitly designed to be a dual-purpose daily driver performance car. Shred a track, take the kids to school, destroy a backroad, do the costco run. The Cayman can't do those things.
I think the GTS competes with the M2C, and the winner comes down to whether you prefer skids to laptimes.
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