RedJaron :
The 860K never looks particularly good.
Yeah, it's not worth overclocking. Or more accurately it's not worth spending additional money to get a good overclock.
But while the 860K benchmarks lower than the i3 every time (not disputing that), the 860K fits into a small spot with people who game and do office work (or other things that don't demand tons of CPU power). From the SBM benchmarks with the 860K + GTX 970, non-overclocked:
Arma 3 Ultra @ 1080: 41.8 fps
Grid 2 Ultra @ 1080: 82.8 fps
BF4 Ultra @ 1080: 84.9 fps
Far Cry 3 Ultra @ 1080: 62.1 fps
Those are all perfectly playable framerates. For 3/4 games, it's higher than the 60 Hz refresh rate most monitors operate at. And the lowest (41 fps) is still better than consoles, which tend to target 30 fps.
Of course a faster CPU is always better, but saving $50 on the processor and putting that towards other components might go further in making the computer more pleasant to work with. For example, getting a 480 GB SSD (vs 240 GB), and loading games off the SSD IMO improves gaming experience far more than pushing more frames once you're above 30 fps. Even spending the $50 on a video card with more VRAM might be better for future proofing.
But yes, you'd have to be on a very tight budget for the 860K to make sense, especially since it's an old architecture and Zen should be coming.