Throughput answers "how much work comes out per second?" For a circuit that produces one result per clock cycle, throughput equals the clock frequency:
throughput = 1 / T = f results per second
It's different from latency, which is how long one item takes. A pipeline with long latency can still have high throughput, because many items are in progress at once, each in a different stage.
Pipelining raises throughput by shortening the clock period. With N equal stages and no overhead, throughput would rise N times. In practice each stage pays the register overhead tcq + tsu, and the period suits the slowest stage, so the gain is smaller.
Throughput only helps when there's a steady stream of work. For a single item, latency is all that matters.