After watching Jay and Steve do stock and overclocking testing with water, AC and LN2, I've got a kind of idea of the behaviour profile of a 7950x
By default, the 7950x's clock profile is quite conservative under water/air cooling and if you have a decent air cooler or AIO you'll be looking at your 7950x doing 5/5.1ghz all core.
If you happen to get better than AIO temps by either using an AC unit, sticking your radiator in the fridge, LN2, delidding direct die or w/e you can think of, that stock 7950x will run at 5.4ghz all core but won't go higher as the stock voltage create a power limit.
This tells us that the 95c temp limit, is limiting our performance - a stock 7950x is actually trying to reach 5.4ghz all core but it can't because normal AIO and air cooling isn't good enough.
But like I said the 7950x is very conservative and you can get better performance without better cooling - by doing manual adjustments in the bios you can get the 7950x to 5.3ghz, maybe 5.4ghz with Air or AIO cooling by playing around with voltage or just forcing it to push a fixed clock. And I think as time passes, people will find way to go even higher than 5.4ghz on air/water