Overclocking doesn't make a significant difference in gaming in many of the benchmarks I've seen but, sometimes a cheaper cpu overclocked will start to keep pace with a more expensive one at default, so you effectively get the next tier of cpu for a few $ less and it doesn't add any wear and tear if the cooler is adequate. Some people run their overclock for more than 5 years all the year round with no ill effects.
There are a lot of variables that affect ambient conditions and temps and it's the peak load that really stresses the system rather than the average people have different shaped rooms and different kinds of ventilation, different hardware, neat cable management or not, good or poor airflow, but the main factor is how much heat the cooler can dissipate. Overclocking isn't a necessity, you can get a bit more out of the cpu, one of those things. If you can, do. It does necessitate the precaution of a decent psu and cooler, things are nice to have anyway and not all that exorbitantly expensive.
It has turned out even on some high end systems that overclocking the cpu doesn't make a huge difference of say 4fps or something, and overclocking the gpu is more risky, and custom cooling one more difficult, but there is a bit of competition in the oc world with peeps vying for the 1 spot with their overclock. If you aren't comfortable overclocking, don't. I don't overclock my gpu at the moment 'cos I'm not finding any good documentation, the manufacturer software doesn't work and I'd have to use msi afterburner, looked at it and thought, nope dunno what it does.
Yes I've seen it undervolted and overclocked but did I get exactly what they was doing precisely with what buttons in what order and why, no, so I didn't mess with it.
https://www.userbenchmark.com/UserRun/17039161
Don't have any major bottlenecks in my system beyond the limitations of the actual last gen hardware, storage hdd's are a bit slow but bearable. And I'm just getting round to pushing the overclock up to 4.7ghz. 4.3 on all cores is faster than the turbo of 4.2 on one core which is a bit of an improvement. Will I rev the motor as high as I can, on the day when I've built another pc and don't have to rely on it as my primary system.
Here's a sample of my temps playing fallout 4 at 1600x1200 ultra detail
https://ibb.co/87X58F7
temp1 cpu temp idle at 34c (sort of idle alt tabbed with the game in the background)min 27c load 38c. Mobo temp 30c idle 31c load. Did I spend a bit more time and effort and money on a custom cooling sol'n yes, is there a problem with those temps, no. It's a long way from the margins where things look unclear and unsafe, nowhere near running hot it's perfect. Do I worry about airflow, no, I don't even have the side panels on my pc, only a 120mm fan huffing on the vrm heatsink to replace the airflow from an air cooler.
Would an air cooler do the same job, not quite but pretty close. But my loop isn't a standard aio. It's a thing I jury rigged together using non standard parts, for fun.
All looks fabulous at a cool ambient of 21c but on a hot day it will find it's limits at the highest overclock. The Thing cooler on a ryzen should be perfect. All I need now when I upgrade is to buy a $20 water block because of socket compatiblity. Would I say you should build a The Thing cooler well no it's a lot of work custom water cooling builds have their risks you need a bit of savvy to do it but I wouldn't say it's impossible or not do-able either. and it certainly isn't dying from temperature.
add 18c for a hot day raising idle temps more and it starts to get near the recommended 55c limit for fx. Add a bit for local air temp rises due to heat transfer and it gets close on the margins. Ryzen has a higher limit but throttles around 70c so should be able to handle a hot day like the hottest days of the year can be, without overheating, with a good cooler. The weakest link is is the peak load which is only happening like less than 1% of the time.