https://en.wikipedia.org/wiki/Instructions_per_second#Timeli...
To see an example of why GHz isn't an accurate way to look at performance, compare these two:
Pentium 4 Extreme Edition - 9,726 MIPS at 3.2 GHz
Intel Core i7 5960X - 238,310 MIPS at 3.0 GHz
That said, it is possible to have CPUs that exceed 4GHz. Heat is the issue you need to overcome.
Here's an Intel's Core i7-4770K, overclocked to 8GHz:
http://www.tomshardware.com/news/Intel-Haswell-Overclock-i7-...
Comparing your Intel Core i7 5960X with the old 2004 Pentium 4, single thread performance:
Intel Core i7-4790K @ 4.00GHz ... 2529
Intel Pentium G3258 @ 3.20GHz ... 2172
Intel Core i7-5960X @ 3.00GHz ... 1991
Intel Pentium 4 @ 3.80GHz ... 824
Intel Atom 230 @ 1.60GHz ... 238
https://www.cpubenchmark.net/singleThread.htmlVector processors like the Cray-2 are very awesome and had huge amounts of main memory. We will see nVidia does with their GPUs and AMD does with their APUs that works great already in PS4/XB1.
(MIPS and GFLOPS measurements depend on the benchmark implementation and the used language/compiler/etc.; and they show unrealistic PEAK results, rather than real world performance) LINPACK benchmarks (Fortran based) is better than MIPS AND GFLOPS too, "The performance measured by the LINPACK benchmark consists of the number of 64-bit floating-point operations, generally additions and multiplications, a computer can perform per second, also known as FLOPS. However, a computer's performance when running actual applications is likely to be far behind the maximal performance it achieves running the appropriate LINPACK benchmark" https://en.wikipedia.org/wiki/LINPACK_benchmarks
(Not saying 10+GHz is necessarily impossible, just that it's more likely hitting it is hard than Intel doesn't want to innovate there for some reason.)
And releasing a new architecture is not exactly feasible if they want to stay in the server, workstation, and desktop markets. That idea behind Itanium actually was to get faster by dropping x86_64, and we see how poorly it worked out.
Intel needs a serious competitor, otherwise we won't get it by 2020. Is Intel waiting for AMD/ARM/Mips/etc to catch up (and milk the customer) so they produce faster CPUs they probably already have in various stages (prototypes).