It seems that the worst case scenario for AMD is assuming 100% efficient multi-threading on the R1700 vs. i7-7700k. This gives 1410/16 single-threaded performance for R1700 vs. 967/8 for the 7700k. But then the base clock speed on the 7700k is 4.2 GHz vs. 3.7 GHz for the 1700. (I'm assuming that a fully threaded workload will run closer to base clock speed than to boost speed). So IPC single threaded can be estimated at 1410/(16*3.7) = 23.8 for R1700 vs 967/(8*4.2)=28.8 for 7700k. So IPC still lags by about 18% , but they seem to have achieved parity on performance per watt.