From what I can tell it comes down to execution engine differences. TimeScale, even with compressed tables, uses a row by row execution engine architecturally resembling IE6 era JS engines. ClickHouse uses a batched and vectorized execution engine utilizing SIMD. Difference is one to two orders of magnitude of throughput in terms raw number of rows per core pushed through the execution engine.
Postgres/TimeScale could certainly also implement a similar model of execution, but to call it an undertaking would be an understatement considering the breadth and extensibility of features that the execution engine would need to support. To my knowledge no one is seriously working on this outside of limited capability hacks like vops or PG-Strom extensions.