Just imagine pipelines and clock speed as trying to fill up a container faster with water. Lets say you have two 50 gallon barrels to fill up. I am using 12 pipes with a gallon of water going through each pipe a minute, and then 16 pipes with 4/5ths of a gallon going through each pipe. The one with 16 pipes will fill up faster even though less water is being pushed through each pipe. You can take that same thing and relate it to video cards....except there are a lot more things that determine the performance of a card but thats just for example.
Never look at one spec and think the whole thing is better because technology does not work like that