From the creators of "I am a self-made man... who was born to billionaires." What you paid is what you paid, not an average number which is overly high.
$480 is still kinda too much for a what's supposed to be a 4060, or, best case scenario, 4060 Super.
The only thing matters right now is that 4070 is superior to 6950 XT in power efficiency, RT performance, having Frame Generator (which is not widely useful at the moment), and some specific non-gaming scenarios where AMD is poorly or not supported at all. In non-RT gaming, 6950 XT is very far ahead. And price is similar, sometimes lower. So it basically depends on what you prefer playing, what resolution you have and what features you favour more.
Of course I'm a huge hater of modern trend of making more and more and more incredibly stupid extremely high wattage million rocks huge mammoths of GPUs just to squeeze these 200 MHz out of poor dies. But 4070 has a lot of disadvantages, especially for what nVidia is asking for it.