Remember guys you are comparing a 28nm that it is in it's early stages vs a 32nm process that has had it's time to mature. From the go we knew the clock subject could be a problem considering it was bulk, but it was the wiser choice considering making it in 32nm would have ment porting GCN to a bigger node with different capabilities.
I would preferably had had Kaveri on TSMC @ 28nm a while ago, and move the production volume to GF when they had their node ready (ala console semi custom chip in the future), but hey, if it was my decision, I would have chosen to make bigger dies to cover the WSA agreement easier and compensate AMD's deficits in IPC and process with more transistors till they could renegotiate WSA to better terms for them (for them, I mean, GF must be having a blast having a customer forced to buy them or pay them anyways).