The current rumours being reported as fact that Navi's clocks are way lower than Vega 20, and power draw is a disaster make absolutely no sense and are almost certainly false.
Vega 20 was an optical shrink of Vega 10 which never took TSMC 7nm into consideration in its design. Navi was always for 7nm, from the get go. Aside from the advantage of designing for this specific node, if Vega is an evolution of Fury and Navi is an evolution of Polaris (though bigger one), then it would also tend to suggest that clocks would reflect the fact that Polaris was always further down its voltage and frequency curve than Vega was (it was far higher than ideal on Vega10), so there should be more room to play with.
Further, if it was a dud or there were inherent issues with it, it would have been known long before now, and Sony (and likely MS) would have presumably opted for 'Next Gen' which has already been in the design phase for several years now.
Some are claiming that it could still be true given all of the above, because it was designed for GF 7nm EUV (Samsung 7nm EUV basically), and since that got canned and it was designed for EUV, AMD were screwed and had to totally redesign it. That makes zero sense though. AMD have known for longer than we have that GF 7nm was a bust. If it was designed specifically around EUV, then they simply would have moved to Samsung 7nm EUV which is ready now, or waited a bit longer and gone with TSMC 7nm+ (EUV). But they aren't, at least not with first wave of product, even if PS5 and XBNext GPUs will almost certainly be on EUV.
TLDR, there is a very high probability that this is total FUD.