If this is existing RDNA and not RDNA2 it will be dead on arrival. Assuming the navi architecture scales, 5950xt might be a 2080ti competitor without RT, or if its RDNA2 with RTRT.
The problem is, Turing is more than a year old and Ampere is soon, reportedly pushed into first half of 2020. Considering Nvidia is already performance and efficiency leader using 12nm, and with first gen RTRT taking die space and power budget, 7nm+ Nvidia will be 50%+ performance gains with slight efficiency gains as well.
Think 2080ti performance at $450 or less, using the power draw of a 2060S.
AMD needed big navi 6 months ago, if it releases it now and its just RDNA1 scaled up it's a waste of time, and the only ones who will buy it are AMD fan boys, of which, admittedly there's a lot of.