IMO, horsepower for NLEs & which tend to be far more demanding than DAWS:
Multiply CPU speed by number of cores to get a useful comparison between options (notwithstanding other possible factors like over-clocking, Turbo Boost and other BIOS tweaks etc). eg:
8700k = 6 cores x 4.7GHz = 28.2
7700K = 4 cores x 4.5GHz = 18
So on this basis, the 8700 wins by a mile.
Elsewhere with larger dual Xeon systems this can be far more pronounced. For example, many workstation’s ad hype can lean on huge numbers of cores /threads, but when examined a little more closely these systems often have much lower clock speeds, eg around 2.1 GHz or so. I found that nothing less than 3.0Ghz does the trick and especially for video production (along with good GPUs). Ditto large amounts of ram for that matter - check out what the app actually needs and can use. As a rule - unless doing a high amount of multitasking /multiple apps /round-tripping - 32GB does the trick, I use 64Gb for a little overhead.
In sum: multiply the two elements of core numbers and clock speed to get a truer indication. In this sense & in my experience, clock speed wins overall.