Hate ppl who only think inside the box. IRL maximum fps is absolutely meaningless to either cpu, minimum fps is all that matters. You've got a 60Hz monitor. It doesn't matter if the 7700k got 500fps and the Ryzen 5 got 150fps, they would game the same. You get 60. That's it. The 7700k as is does not 'crush' the Ryzen, anymore than a 7700k crushes an i7-4790k, which is the Ryzen 5 1600's rough equivalent in IPC. The only advantage the 7700k holds is in gaming situations where minimum fps can dip below 60fps, it sees a few more fps than the Ryzen so doesn't dip as far. In every other gaming situation, they are effectively equal. Unless of course you have a need to get into production apps, in which the R5 1600 can almost double the speeds of the i7.
The Ryzen is a much better value, initially. If you own an intel Z 170/270 board already, then it's a toss up as to what works, $300 for an i7 or $300 for a Ryzen. Not included is what you can sell the old cpu/mobo combo for, which brings the Ryzen total lower overall than just a cpu sale. So the Ryzen is still a better value.