The situation is not the same, it's not even close to being the same. With the Kepler GPUs:
1) There is a guaranteed base clock, which is typically 100 under the boost clock. Conversely, the 290 is throttling up to 300mhz under the boost and DOES NOT have a guaranteed base clock - the boost isn't guaranteed either. It's an "up to" boost.
2) Kepler boost is exceeded out of the box. Every Kepler GPU will boost WELL PAST what the specified boost on box is - for instance, the GTX 780 advertises 914mhz boost. Every Kepler GPU boosts WELL PAST this out of the box.
3) Kepler GPUs, because of #2, will generally ALWAYS be higher than the advertised boost in a demanding game.
4) Kepler GPUs generally throttle 1-2 bins at most, which is 13-26mhz. Conversely, you have the 290 throttling by 300mhz at factory defaults. Not even close to the same situation.
Because of these reasons, Kepler GPUs perform consistently. The 290 and 290X do not, in fact, perform consistently: what's worse is that "quiet" mode 290 and 290X are in fact louder than Kepler GPUs at 100% GPU load, and while the Kepler can maintain 100% performance the 290 cannot maintain 100% performance at the factory default settings. You can lose around 18% performance, and this is ignoring the fact that every sample performs differently at retail.
That is the 290 throttling situation.
Here's Kepler:
Multiple review websites noted that Kepler GPUs perform consistently within 1% of each other due to the fact that Kepler boosts higher than advertised out of box, including Toms, Hardwarecanucks, and PCper. So don't deflect and try to paint GK110 in the same light: Don't try to say that Kepler GPUs have 290 levels of variance, because they don't. And that's the problem. The competing product performs consistently at factory defaults while still being better acoustically than the 290X, while the 290X at factory defaults has wild variances and throttles WAY more.
IMO, this entire press vs retail performance variance is a mess. Apparently AMD cannot fix the issue, so how can anyone look at quiet mode benchmarks seriously? Any benchmarks on the web aren't indicative of what someone may get at retail. So AMD's answer is to flip the BIOS switch. Well, that's great, but then does AMD put a disclaimer on all of their GPUs indicating that there is no guaranteed performance at factory defaults? Do they change the defaults?
There's no easy fix here, and this is ignoring the fact that for SOME REASON no two cards perform alike at retail. I still don't understand how the press firmware caused retail cards to crash.
In fact, if someone wants to explain how the cherry picked press cards somehow have a BIOS that has higher clockspeeds, lower voltages, AND that same BIOS causes retail cards to CRASH? How is that AMD not cherry picking and not cheating? Seems pretty obvious at this point. They didn't want people reading reviews to see the real story on factory default performance levels at launch....