Because an AMD core does not perform the same as an Intel core.
Same as some AMD cores not performing the same as older/other AMD cores (this applies to intel as well).
Core count/speed is pretty much irrelevant when comparing CPUs. All you really want to know is power consumption, socket type, and performance.
An i5 4690k has much more powerful "core" performance than the 8300 "core" performance. But, the 8300 has 8 cores so in applications that utilize 8 cores the 8300 will pull ahead in performance. The problem is VERY FEW applications benefit from all those extra cores, you have to be in a very specific niche to benefit... like rendering video often. But in programs that utilize less cores, a stronger core will benefit (the i5). The extra cores of the 8300 chips is also nice for heavy multi-tasking, but the i5 performs well there as well. It really all depends on what you want to use the computer for, your future plans, and more.
Not to mention you need a double rad/double tower cooler and a very beefy mobo to overclock the 8300 chips. They are much less efficiant than the i5s, so they run hotter and guzzle down much more power (power bills add up). The cheap price of the chip kind of offsets the price of the expensive mobo and cooler, but it's still something to think about..
One more thing... remember with the i5-4690k, you can eventually upgrade to the i7 series chips (that completely destroy the 8300 chips in everything). With an 8300 chip... your best upgrade available is a 9590, which is just an overclocked 8300 chip.
So for upgradability, the i5-4690k is also better.
Hope this helps.