Yes single threaded perf is still important, but really only if you have top-end GPUs. 8 - 12 threads is where multi-threaded gaming gains seem to wane at bit, which might make sense given last console cycle's architectural optimizations. Once you're at 8 - 12 threads frequency starts becoming more important. Most recent Intel K CPUs can hit 5GHz+. The 10900K is still the best performing gaming CPU out there, and 8086K is still very competitive. Still seems many game engines are optimized for Intel and even with Zen2 having an IPC advantage, it cannot muster high enough frequencies to beat Intel's top gaming CPUs.

Maybe Zen3 will change that though, more IPC gains and possibly higher frequencies. If AMD can put out at 5GHz chip, it would probably demolish Intel's current offerings.