The "Z" in the codename reveals this is a Qualification Sample and the "G" is believed to be a console reference. The core count is eight and the numbers seem to suggest this is a chip with a 1.6GHz base clock and a 3.2GHz Boost. The GPU is based on Navi 10 Lite and seems to have a 1GHz base clock and 1.8GHz Boost.
It's hard to speculate how much extra performance this will provide to the next generation of consoles. As ExtremeTech reports, we don't know a lot about what to expect from Navi, but we do know the new Ryzen-based CPU cores are a lot more capable than what's found in current-gen consoles:
Given that Ryzen delivered a 1.52x IPC improvement over AMD’s previous Excavator core and Excavator was substantially faster clock-for-clock than Jaguar on average, the new CPUs inside next-generation consoles could plausibly deliver at least 2x the CPU performance of the baseline Xbox One and PS4. If these chips prove capable of holding >1.6GHz clock speeds, the gains could be even larger. Other tweaks, like using a unified eight-core design with full-speed L2 cache as opposed to the 2x quad-core architecture with half-speed L2 that typified this console generation could provide additional improvements.