At least half is not neceseraly 3TeraFLOPS which Pica084 was using in his calculation.
The HD 5970 has "Processing power (single precision): 4.64 TeraFLOPS" and the HD 5870 is 2.7TeraFLOPS.
LINK
In order to get within the 300W load power AMD needed to reduce the clock and voltage on the 5970. Since the HD 6990 slide shows "Load/Idle board power 300W/30W" some similar adjustment was most likely done.
HD 5970 performs about same as HD 5850 Crossfire unless overclocked to at least the HD 5870 levels.