Yes, otherwise Intel wouldn't have bothered making the architecture wider in the first place. Making the architecture wider makes the scheduler more complex, uses more die space, uses more power, reduces attainable clock frequencies if the process does not improve enough to compensate, etc. For the extra complexity to be worth bothering with, it has to at least offset the costs.
As for your restaurant example, you have 320 customers waiting at the door. Chances are quite good you'll find people willing and able to sit on your three spare chairs on a regular basis even if those chairs only get to pick from the daily specials or appetizers.