Stop comparing a BD core to a Phenom II core or an Intel core? A module is still two threads, two Phenom II cores = 2 threads, two SB 2500k cores = 2 threads.
Even that aside, a BD module compared to a 2600k core (Both execute 2 threads)
In single threaded app's, the 2600k is bound to beat it, and in two threaded apps the gap becomes a lot closer, possibly better than the 2600k's 1 core, although the slides show that isn't the case, and that it's slower.
It does strike me that a lot of people don't actually know or are misleaded by AMD's marketing strategy regarding modules vs cores.