Well yeah, they're all part of the whole. Neither thing is worth a damn without the other. A 1mhz single core CPU with 1000 IPC isn't going to come close to a high end CPU in 2017.
Having a decent IPC coupled with a decent clock-speed, a decent architecture, and a good number of cores will get you a solid CPU. Ideally you have great numbers in every category that contributes to performance. But if your numbers are crummy in a category, poor IPC, low cores or poor clock speed that's going to have some serious performance implications unless your competition is also suffering from some sort of deficiency that keeps you on par.
Ryzen addresses a lot of Bulldozer's weaknesses. But even Bulldozer was fairly competitive in highly threaded workloads compared to an i5. Having a truly competitive CPU with a high number of cores is just a different ballgame. And it's forced an Intel response. We've had about 7-8 years of the Core i series, and now suddenly when Ryzen appears we get an i9 with a serious number of cores. Because with multithreaded applications Intel's best 4 or 6 core i7's can't compete. Their per core performance isn't nearly superior enough to outperform 2-4x as many cores on a Ryzen CPU.