Earlier quoted context omitted.
The linked benchmarks are putting the $350 1700X about on par with the $1100 6900K when it comes to both single-threaded and multi-threaded performance. Both of those processors are 8-core/16-thread chips. Also the 1700K is a 95W TDP compared to the 6900K's 140W TDP.
Again, the 6900K is a two years old µarch, and not one which was considered a great release in the first place. The 1700X will not be competing against the 6900K because nobody gives a rat's ass about the 6900K, the 1700X will be competing against the 7700K and its ilk.
The only redeeming quality of the 7700K is that Intel was able to raise the turbo freq to 4.5 GHz, while the 1700X only boosts to 3.8 GHz. So yeah single-threaded perf will be higher with Intel.