I think AMD's made a good call here.
They don't need to be at the top of the GPU performance figures to make money.
I don't know anybody personally that has paid or would pay more than £600 on a GPU. £600 is an astronomical amount for the single component of a system with the shortest working lifespan. It's already a price point that is outside of the scope of a first time PC builder, or a pre-made buyer. Those people are looking at 4060's and 7600 xt's in the sub £300 market.
Personally I think top end GPU's are loss leaders. There's no way the components and RND that goes into a £2000 card that is going to sell a miniscule volume is ever going to make money. It's sole purpose is to carry the branding. Nvidia have already won the brand war.
So AMD stepping back a little, and concentrating on cards that are actually going to sell in volume, and make profit. I'm all for that. It makes AMD stronger, It lets them lower the cost of their cards by not wasting the huge amounts of money needed to produce cards that simply don't move from the shelves. So if it works, I should get a better deal as well (in the future).