GTX 1080 underperforming?

May 14, 2017
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So this past weekend I picked up an EVGA GTX 1080 FTW2 to replace my RX 480 4GB. I only game at 1080p and from what I've read, this is complete overkill but since I was planning on grabbing a 1440p monitor in the near future, I went ahead and purchased the card anyway. My current setup looks something like this:

Monitor: LG 75Hz 1080p w/ Freesync
Processor: Core i5 4670k running at 4.2GHz
Memory: 16GB of 2400mhz ddr3 memory.
GPU: EVGA GTX 1080 FTW2

I'm playing Destiny 2 at the moment using the "highest" preset in the video options menu and vsync enabled which means my FPS is capped at 75 in this case. Well here's the thing, I'm noticing in some situations my FPS drops down to the 62ish range if there's too much going on at once. I was under the impression that this card should slaughter 1080p but it seems that in some cases it doesn't. In most cases if I remove vsync my average FPS is about 120, 25ish less than what I'm seeing in benchmarks and it will still dip to 62ish when there's too much going on. The only thing I can think of holding me back is my processor but I didn't think it would be that much. All my drivers are up to date, does this seem normal? Maybe I was expecting too much but something isn't performing well and I'm trying to figure out what.