It's called "Diminishing Returns".
The more performance you want the more you have to pay. It does not scale up linearly. Sometimes for a small performance gain of 100MHz, the price increases by $200 or more. A dual core i7 "U" or "M" runs faster and has more cache and potentially may have the more powerful Intel HD 5000 vs the Intel HD 4400 (in "U" models only). The Intel HD 4600 in fact is more powerful than the Intel HD 4400.
A major difference is the Core i3 lacks Turbo Boost which allows the CPU to overclock itself as long as it is not too hot. Only Core i5 and i7 CPUs have Turbo Boost.