Yes, assuming similar IPC to RDNA. This is based on the performance difference between the RX 5700 and RX 5700 XT. The 5700 XT has +11.1% more CUs and +10.4% higher clocks, resulting in a 12.7% increase in the 3D Mark Graphics Score. So, it looks like much higher clocks would be needed to double RDNA2 performance.
You can see a similar pattern with older GPUs too - The 5700 XT's higher clock rate helps it to keep up with the Radeon VII.
Higher clocks improve overall GPU performance, because they boost the pixel and texture rate, as well as the TFlop count. One of the reasons the RTX 3080's performance increase was 'just' 24% (or perhaps a bit higher) vs the RTX 2080 TI, was that Nvidia only increased the clock rate by 10.6%.
I think the rumour mill has focused too much on RDNA 2 having 80 CUs, I assume this is because they simply have no idea what the maximum clocks could be. Maybe GPU clocks could be higher than expected?
The 5700 isn't just 10% less hardware than a 5700xt though. It has the same ROPs and other hardware. A better example would be the 5500xt vs the 5700xt, which the 5500xt has half the memory bandwidth, half the ROPs, 55% of the CUs and TMUs, 3% lower clocks. The 5700xt is 90% faster than a 5500xt at 1080p
From this we could conclude that an card with 84cus, 336TMUs, 128 ROPs, 1962mhz boost would also be 90% faster.