https://www.youtube.com/watch?v=uC8rCeDMqFw
The SP1 chassis (and cooling solution) was originally designed to accommodate a 17W TDP Ivybridge CPU under extended load without throttling. This was later dropped to a 15W Haswell CPU (and also had better power gating features) with the SP2 in the same chassis, since now the cooling was over engineered and so fan noise was reduced and was able to maintain no throttling.
So now they launched the Surface Pro 3 (thinner and lighter despite a bigger display!) with the same 15W Haswell as the CPU. While the launch "marketing" speak focused on improved design and construction to make a thinner device the actual reality is thermal dissipation applications in consumer products have barely advanced at all and defiantly not since the <2 years the original SP chassis was designed. So despite a higher fan speed (more noise) the new chassis cannot even prevent a 11.5W Haswell (i3 version) from throttling under extended load. The reason is the size improvements actually came largely from trading off cooling potential.
Now is this an issue? If your performance criteria (based on usage) is only mostly burst speeds than this is actually a good thing, since you obviously get a much easier to handle chassis for the display size (and the SP3 is a great improvement of the SP2/1 in this area). If you're actually expecting i5-4300u performance in line across all workloads with other devices (particularly ultrabooks) than no you won't get that (also the SP3 is not really faster than the SP2, as the latter for the majority of its life received a silent update to the same i5-4300u but doesn't throttle. Only the i7 version would be faster in bursts but be slower over extended).
But the other issue with this is you are still paying the large premium (margin + BOM) for these higher end CPUs that you can't actually fully use depending on your usage, and may not actually be all that beneficial ($200+ cheaper Baytrail version with 4GB memory anyone?).