I think it would be a bit soon for a 30x0 series wouldn't it?
And yes, I think that's exactly what they're doing, milking the architecture for all it's worth before a new design and process next year. It looks entirely like a way to torpedo the Navi launch by undercutting prices and beating performance points.
Which to me is a good thing - competition is supposed to give us better, cheaper stuff, right?
It's not cheaper though and it's better in a bad way because Nvidia could have offered it at that price before AMD did a single thing.
Anyone buying Nvidia is getting shafted, hard.