On the bright side for consumers, this will force AMD to price 4C/8T lower than most of us expected. While overall performance might be lower, with games targeting 8 threads (thanks to consoles), there are occasions where 4C/4T would do worse in minimum framerates than 4C/8T, even if total throughput is lower, due to various timing issues.
I personally would take a 4C/8T at 3.5GHz over a 4C/4T at 4.5GHz.
But if there are frequency issues with the chip you will not be able to overclock it.