LOL. They would never buy AMD dGPUs to begin with. Even if the 5950 XT beats the 3080TI by 25% they will still buy a second hand 2080ti/2080. Or, if they can afford it, buy a 3080ti. That is the norm I've seen unfortunately.
Who said anything about an AMD card?
As long as there are muppets who will fork out obscene money for <PRODUCT X> then <COMPANY X> will see no need to lower prices. In turn, <COMPANY Y> will see no need to significantly undercut <COMPANY X> and pitch <PRODUCT Y> at a comparable price. And with these 2 companies inflating the market price because they know goods will sell, <COMPANY Z> will just join them.
Now if you fill in those blanks with real names:
Nvidia release RTX 2080 for $699 and it sells. AMD can brute force similar performance with Radeon VII so also charge $699 because the market will support that price.
Nvidia sell RTX 2070 for $499. AMD beat it with the 5700 XT and announce at $449. Nvidia
doesn't lower prices and release the Supers instead for more money. AMD drop the 5700 XT to $399 and Nvidia
still doesn't lower prices.
Same goes with the GTX 1600, RX 5500 and RX 5600 ranges.
So AMD are offering competitive products, but that competition is maintaining inflated prices, not lowering them. So why then would the arrival of Intel change that? Intel will just come in at the same price because the market supports it.
Now if consumers didn't buy the 2080 Ti at £1,200 Nvidia would have to lower the price. If consumers didn't buy the 2080 and Radeon VII at £700 Nvidia and AMD would have to lower the price. If consumers didn't buy the 2070 Super at £500 and the 5700 XT at £450 Nvidia and AMD would have to lower price. It's the consumer dictating the inflated prices because they are empowering Nvidia and AMD to take the ****. So if you want prices to come down, cull the morons with more money than brains.