Are you certain you don't mean "stops boosting" when you say that?
I'm running exactly the same: a 3900X with the default included cooler. Yeah, it hits 95C and at that point it's running at 3.8 GHz instead of 4.4 (I never see 4.6 unless I boot Linux in single user mode).
But 3.8 is the base clock speed, so I don't think "throttle" is the right word for "running at base clock."
The downside is that there is evidence that such high temperatures increase electron migration (or something similar) in the chips themselves, leading to not infinite lifetimes. I want this computer to last 10 years, so I bought an aftermarket CPU cooler for $30 to keep temps closer to 50 degrees
Of course, if you do something like not attaching the heatsink at all, it's plausible that heat could spike fast enough to cook the chip before throttling or overtemp protection can kick in/shut the system off.
Pretty sure I've seen 75+ on mine 3700x