Here's the issue. You've got a viable i7 vrs a new i3 or midgrade i5. There's no way the i3 will be viable shortly. 4t or not, games are moving into multiple thread counts, and the 1 example aside, generally the i7 will be a much better overall cpu than either of the 4t cpus. Even cs:go is headed for a multi-thread update with possibly 8 thread usage. Modern games are basically headed for a minimum spec of 4t, with optimal specs of 8 or more t, the i5 will suffer in the end.
My advice is forget Intel for this generation, the amd Ryzen 1600 has all the properties of the i5, including price ranges, yet will outperform even the i7-7700k at production apps, and is a 50/50 tie in games using multiple threads. By far the most cost efficient...