I think what ShintaiDK was referring to were days of old when all processors were single core and only the clockspeed differed.
These days trying to pass some kind of $750 Xeon for a $9999 Xeon (if such a Xeon even existed) would be impossible simply because the core count would no doubt be different. (ie, no way to make a low core count perform like a high core count processor no matter how much overclocking were done to it).
With that mentioned, Intel could always adopt some kind of strategy where only the top bin in a specific core count category get the unlocked multiplier. (In fact, we see them doing this already for LGA 1150 and LGA 2011-3 K SKUs, the major exception being the i7-5820K and i7 5930K which both have 6c/12T, but differing PCIe 3.0 lanes)
My understanding, is that a huge number of Xeons, are sold to server manufacturers, such as Dell, HP, IBM, etc.
They want their servers to be reliable, trouble free, quality, stable, accurate etc.
They are NOT going to touch overclocking with a 1 mile long barge pole. (My opinion).
The words, Overclocking and Xeons, should NEVER appear in the same sentence. (Joke, but I hope you can see, that the concept, is true, nevertheless).
Most people who buy brand new Xeon equipment, such as servers/workstations, DON'T want to overclock it. Even if they could.
Overclocking servers (brand new ones), is a very bad idea. They are meant to run 24/7, 365 days a year. Ideally, as trouble free as possible.
Eventually (in say 15 years time), when the server is worth $35. The new owner might want to overclock it, to get more performance out of it. But that is NOT a good reason for enabling overclocking, on ALL Xeons.
Part of the problem is that if you are gaming, and the overclock freezes (crashes), the computer. No great harm has occurred, and the user can immediately re-boot the computer.
But a Server (is often), in a rack system, in some partly out of the way, server room, somewhere. If it suddenly froze (crashed), due to overclocking (which can't happen, because Intel rightly, DON'T allow it, on modern Xeons), 1000 internet users, who are currently using that server, will find their web browsers, saying Error 404.
It might now take a significant period of time, before a technician, can re-boot that frozen server.
The company, may now have lost thousands of customers (angry at always getting Error 404). Which may now cost the company $100,000 in lost customers. All because they tried to save $199, by overclocking the cpu.
tl;dr
Overclocking serious use Xeons, is a very bad idea (in many cases).