There are multiple parts of this and it is hard to sum up in one "yes" or "no" answer.
1. The 4090 is a beast of a card. It absolutely blows away everything and it even does that at lower power draw than a 3080 if you want it to. The catch is that you have to pay $1500+ (sometimes+++) for that. The costs have gone up beyond the rate of inflation, which casts a bad light on it.
2. The rest of the lineup is disappointing. Two 4080's is a good card on it's own, but it's overpriced. Going from $699 "80 level" MSRP to $1199 in one gen is crazy. From a performance, and especially a perf/W perspective, great card...but does it outperform enough other cards in that price range to make it worth it? No.
3. 4080-lite 4070ti is way overpriced. Everything below it is memory limited and extremely price-gouged. Nvidia basically said you have to spend $1200+++ if you want to play over 1440p and even there sometimes. Game devs are designing with 16GB consoles in mind today. Even beyond the total memory limit, the buses and bandwidth are extremely limited this gen, which has shown issues across all sorts of games. Most of Nvidia's cards this gen underperform, especially for the price and it usually is down to the memory choices and the cut-down chips compared to previous generations. There's a very visible decision from them to reduce the amount of silicon they put into gaming GPUs unless you buy the top card. They cherry pick a few titles where they do ok to try and justify it, but there's no longevity in the series below the top two cards and while some of that is the fault of game devs, Nvidia is well aware of the trends and made those decisions anyway. It's clear that they value AI more and are moving silicon allotment in that direction while still charging full price to us (and then some).
4. a note on the prices...You could not get a 4090 for months without spending well over "MSRP". Nvidia is clearly charging so much money that the AIBs have to bump up the prices by quite a bit to make any money. This is why EVGA dropped out of the game and why we have $2.2k 4090s from Asus and cards ranging from $1650 to $1900 from Gigabyte, MSI, PNY, Zotac, etc. Nvidia is making themselves the only viable company to sell cards at "MSRP" in an intentional means of undercutting their partners. This trend is worse with this generation than previous ones so it would have to be weighed against this launch in a "yes" or "no" answer.
So TL-DR - There are a couple great cards in this generation, but most of it has been horribly priced and some of it is so cut-down that it doesn't outperform the previous generation even though their new architecture and platform is considerably more powerful/efficient than the previous gen.