I think people are missing the point here a bit.
The R9 Nano is designed to be a niche product. It aims to prove that GCN is still a slightly viable architecture to work with (and maybe, just maybe AMD is still a viable choice for your consumer graphics needs), despite the fact that both fully fledged 1.0 (Tahiti) and 1.1 (Hawaii) were monsters with respect to power consumption. It is not a direct competitor to the GTX 970; the R9 390 and 390X are supposed to be the hard-hitters that take on the GTX 970 and GTX 980 (with the latter having stiffer competition in the R9 Fury). Before you are quick to mention that Asus and GB have "mini-ITX" versions of the GTX 970, the R9 Nano is restricted to that niche, unlike the GTX 970, whose most popular variants are cards like the Strix, TF5, and ACX 2.0. The SG08 is a wonderful example of a single (1, not all of the mini-ITX cases, but 1 among perhaps 3 or 4 in total) mini-ITX case that has the strict limits on PCIe card length that may demand a card like the GTX 970 DC Mini or the R9 Nano, depending on the length of the PSU that you choose.
If the R9 Nano is released with a high asking price, it shouldn't be of any surprise to anyone since the card was never marketed as a GTX 970-killer - a GTX 970 DC Mini competitor, perhaps. However, I still cling to the belief that the Fiji product family shouldn't have warranted 3 separate, obscure launches. The Fury X release was the only one that drew significant attention (save for the R9 Nano, of course, we'll see how this one turns out), with most of that attention turning into hype and eventually, disappointment. The R9 Fury kind of just appeared in the background, and seemed incredibly delayed.
We've endured this kind of horrible marketing from AMD since, I dunno, forever? It isn't even something to take note of anymore. When you're losing to the competition in just about everything, what do you do? Find one of the rare things in which you aren't losing, and put it up on your PR slides. Duh. Would "Fury X is more expensive and slower than the GTX 980 Ti" be a better title for AMD's release event? It's just marketing. Learn to read the fine print. He even had a picture dedicated to the fine print.