Yes. The problem is that there now exists something called "Turbo Boost" which "boosts the performance" of the CPU. Or at least this is true in the case of all Mac computers at this point in time.
Turbo boost gives an additional 50% performance boost, or approximately somewhere along there. So you can either look at it like how maximum turbo boost allows 150% performance, or if max performance (with Turbo) is 100%, then the "without Turbo" part is about 70%.
But MacOS will NOT allow the CPU to reach maximum Turbo boost in order to reduce CPU temperature. This is in part because Apple does not want to ramp up the fan and/or in the case of the MacBook, they do not want the computer to heat up to the point where people can't put it on their laps anymore even though the CPU can technically withstand much higher temperatures. It is also in response to many cases like this:
http://osxdaily.com/2016/07/13/disable-enable-turbo-boost-mac/
...where people want to disable Turbo Boost just to gain battery life.
Is this temperature thing a real issue? Yes!
https://www.notebookcheck.net/Face-Off-Apple-MacBook-12-Core-m3-Core-m5-and-Core-m7.172046.0.html
The CPU will only reach about 70 Celsius before they drop in performance. The maximum these CPUs can take is up to 100 Celsius.
Perhaps saying this applies to all desktops is a bit far-fetched, but it is indeed a real problem with the MacBook and potentially also a problem with the MacBook Pro as Apple is so fixated on thin and light but also lower temperatures and lower fan noise.
Just to note, this is a hard restraint. Apple seems to do this at the firmware level so no matter what OS you install (as evident in the article I linked above), the limit stands.
Now you know why the m3 MacBook is so slow. It's not because it's not capable, but because Apple is purposefully limiting it.
There are signs that they have lifted this limit a bit with the new 2017 MacBook, though, so we'll see.