It seems the largest issue is getting the heat from the CPU and into the heatsink very quickly because temperatures in a CPU change by massive amounts in very short periods of time. That makes big spikes and the heatsink cannot flatten out those spikes fast enough. For example, if the heat was being transferred to the heatsink quickly and efficiently, I would expect the heatsink to be hot. My GPU runs at around 80C and it gets extremely hot. However, if my CPU is running at 90C, still it does not get very warm. Whatever heat does come from it is actually mostly from the GPU radiating up onto the CPU heatsink. So in reality the CPU is at 90C but the heatsink is barely warm to the touch. That tells me that CPU heatsinks in general just are not that effective at transferring heat and I think the main issue is the contact point between the die, IHS and heat sink. There is too much of an inefficiency there and not enough heat is being drawn from the CPU cores which is why they get insanely hot while the heatsink is basically cold.
I envision the future is something where the CPU itself is submerged in water. Like a water cooling block that claps directly to the mobo and makes a watertight seal around the CPU, and then floods the entire CPU socket with water. Distilled water does not conduct electricity so it is a plausible concept. Either that or CPU manufacturers need to start making larger CPU dies so the heat is spread out over more surface area.