I get what you are saying and have experienced it first hand when overclocking my R9 290. When I approach 1500Mhz on the memory the performance increase was very little and I had got all I could out of the GPU, but that's using a 2560SP chip and around 370Gb/s. Scale the pipe count up by the extra 60% to 4096 and this brings us to around 590Gb/s.
Granted my calculations are all ballpark and could be memory bandwidth top heavy but it's not a million miles away.