Reply from the linux-kernel cpufreq intel-pstate author:
"
intel_pstate enumerates the frequencies by reading MSRs on the
chip. There is a bug in the frequency reporting on Baytrail processors.
Baytrail decided to have the frequency scaled by the bus frequency of
the given SKU instead of a fixed value like the Core processors.
The attached patch should clear this up for you. This patch is going out
today so it should get merged soon. The patch is marked for stable as well.
...
This bug will not affect your performance it is strictly a reporting error.
"
Problem is solved
Update the kernel, once the patch makes it upstream.
Grant.