This slide bolsters my suspicions that AMD was caught off-guard by Nvidia's early release of the GP104 cards. I think they expected them to be released circa October, and maybe that was the original plan, but Nvidia pulled out all the stops to beat AMD to market.
5.5 TFlops of computing performance would equate to 2304 shaders at ~1200 MHz. We know that GCN on 28nm has optimal perf/watt near 800-900 MHz, so this would fit in well with the ~40% clock rate increases that FinFET has brought for most designs.
I don't consider this to be a disappointment in any way. By most accounts, Polaris 10 is about the same die size as Pitcairn, which topped out at just under 2.6 TFlops. If Polaris 10 has more than double the raw performance at the same die size, bus width, and power consumption, plus a bunch of new features, that's about the most we can reasonably expect for a full node shrink.
Let's not forget that GTX 980 does "only" 4.6 TFlops at stock. The reason it contended with Hawaii was because AMD cards of the 28nm generation were less effective at using all their resources in DX11 titles. If Polaris fixes this using some combination of hardware and/or software optimizations, and we see shader utilization on par with Maxwell, then we could be looking at GTX 980 + 20% performance from Polaris 10.