I'm no expert on how software takes advantage of the hardware available to it, but it is quite clear to me that VRChat does not yet have the ability to fully use all of the hardware available to it. I commonly sit at low framerates (20-45FPS) despite CPU usage being around 25% and GPU usage far far below maximum with a large margin remaining for the power target and clock speeds to ramp up.
I have spoken with many people on this, and they all seem to agree that VRC is not using all of the cores/threads available to it, and performance is primarily dependent on single-threaded performance, and that a single core at high clock speeds trumps more cores/threads.
Clock speeds aren't going up much between CPU generations, but core counts do seem to be on the rise.
Please consider improving multi-core performance somehow. Wallowing at 25 FPS on an 8700k at 5GHz and an overclocked GTX 1080 and seeing that you are only using 25% of your CPU and 40% of your GPU is quite discouraging.
Thank you for your consideration and time.