Never for an evolutionary design, but Zen isn't an evolution - it's a completely new design. This is AMD's version of Intel's Core moment... except not as extreme.
If you look at Zen vs Excavator, it's really hard to see how it is only getting a 40% IPC bump.
It has about double the integer hardware, a dedicated, and large, FPU, faster, and dedicated, caches, a front-end known to be capable of delivering more instructions than entire Excavator module can handle, an updated memory controller using DDR4, faster L3 shared with only three other cores, and much more going for it...
The reason you only get a 40% IPC bump from all that is because we are hitting the area of maximum extraction from the fetched instructions using ILP (instruction-level parallelism)... if you can only pre-decode 16B of instructions, you can only go so far for identifying and executing non-dependent instructions.