Awww, I just noticed your username. <3
In theory, the main diference between… well, let's say like 80-85 because getting down to 70 is a bit lower than most people think… but yeah, the difference between that and like you say around 130ish is mainly just that I would expect the two kids in school sitting side-by-side - the 80ish IQ kid takes a little longer to learn the concepts. They have to put in a bit of time and practice compared to the 130ish kid, who tends to pick up on the concepts easier.
But here's the thing: When that 130ish kid runs into something they don't get immediately, they flail around and struggle even harder thn the 80ish kid because they're not used to having to work to understand new concepts. So that 130ish kid is going to tend to give up, whereas the 80ish kid will keep on pressing forward.