Steve at GN has a pretty good point about stagnation. If a product is 10% better but also 10% more expensive, it is NOT a forwards step. Generationally, a better product should be sold on a value proposition. The 4080 failed at it, massively. The 4090 is the halo (for now) so it doesn't follow the same rules (halos never did). We've yet to see reviews for the 4070ti. At 800 bucks, it's 45% more expensive than the 3070ti. We can use FE pricing to avoid AIB tax. It needs to be more than 45% faster to avoid that same stagnation tag. But a mid-tier card (I'd happily argue that X070ti cards are NOT top end) at 800 bucks is terrible value for money. Frankly, it's shameful from Nvidia.
AMD aren't doing much better with the 7900XT, in fact, it's a piece-of-shit product for it's stupid price. The 7900XTX is reasonably faster than the 4080 (RT excuses aside), and is AMD's halo, so it get's the same pricing freedom as the 4090, but has to be far cheaper as nothing touches that card. I wouldn't buy the 7900XT for more than 700 bucks, tops. The 4070ti, same ballpark, if not cheaper (I think it'll be worse without NV's software implementations).
Neither company is doing anybody (except their shareholders) any favours this generation. So, while y'all bicker about it, I'll sit another round out. And really, I can easily see a future where gaming GPU's become obsolete. 500 bucks? I'll go buy a PS5 and play games right now on a 55" screen. Better I'll go play games a year or more before they reach PC.
Nvidia and AMD are pricing hobbyists out of the very market they're trying to sell to.