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Why does it feel like I'm back on the Corsa-C forums "will this k&n give me more BHP?"
Because people who want a hot hatch and buy a 1.2 Corsa often try and compensate by fitting inappropriate add-ons that make minimal - if any real - difference. Spending hundreds of pounds to net 30fps more when you're already hitting 100-120fps which is upto 83% the monitors maximum is pretty comparable, it's also likely the improvement from overclocking would yield near enough what op is looking for with zero expenditure, but that's not what op asked, even if it's what someone should ideally understand before throwing money at the problem.
I think most of us would agree with everything you've said here but there's not a chance on Earth you're getting an extra 30fps, on top of what he already has, from overclocking a 3700X/5700XT.