They seem to have plans to move to a modern GlobalFoundries 14nm process, so it might be more competitive when that happens. The decision to use an older, in-order core is probably based on the fact that their cache and memory controller design is pretty bad, and unable to even feed the slower cores as it is, so faster cores would be a waste. It turns out it is really hard to shove a lot of highly performant cores in a single package, it is much easier to shove a lot of crappy ones.