I think of AMD's current approach - a microarchitecture with slower cores, but more cores, than Intel - as very similar to what Sun/Oracle tried to do from 2005 to 2010 with the Niagara family (UltraSPARC T1-T3). Each core in those chips was seriously underclocked compared to a Xeon of similar vintage and price point (1-1.67 GHz; compared to 1.6 GHz to 3 or more), and lacked features like out-of-order execution and b…
It's not similar at all. AMD's cores are 10-20% slower while Niagara was 80-90% slower. And AMD isn't intentionally slower; they designed the Zen core for maximum single-thread performance but they just didn't do as good a job as Intel because their budget is vastly smaller.
Most of that clock hit comes from the 12nm LPP process that AMD is currently using too from what I can tell, low-power process typically equates to lower clocks (see mobile chips) so it's not surprising - and why Zen 2 being based on GloFo's 7nm process will hopefully close that gap.