The results are pretty impressive
I honestly don't understand why. These ridiculous liquid nitrogen overclocks have absolutely no real world implications whatsoever. They completely trash the hardware, and for what? A big number? What the hell good is that?
It's a shame, because the people that should be getting the hype and recognition are the ones that are overclocking their systems while still having a modicum of stability with real-world applications and reasonable up-time, because at least that's useful to enthusiasts and pushes a real envelope as opposed to a bullshit fake one that only a very, very select few can duplicate and even fewer would even bother.
Want to impress me? Crank out stable 5+ GHz on air cooling across all the cores in an always-on machine. Playing games with liquid Nitrogen is not impressive at all. These guys are the ricers of the computer world.
Actually, you are wrong. I'm not speaking for overclockers and in fact, I'm not even one. However, extreme overclocking is very valuable. It tells normal overclockers how much headroom they can expect (at least relative to another chip), it gives an indication of how robust the chip design and the process technology is.
Your car analogy is completely wrong as well. A ricer analogy would be someone who uses a fancy case but does nothing to improve the internals. The analogy would be someone who takes a stock engine and tries to rev it to the maximum possible rpm by using any means. I imagine that many people would find this a valuable metric especially when they are comparing various engines, especially for specialized needs such as drag racing.