All AMD can do is delay and delay and delay. They kept on delaying the RX7800XT and RX7700XT and nobody bought them in the end. If these were priced well,ie,RX7900XT performance under £500 then they would be out now. The RTX5070 is probably similar or slightly worse performance for more money. The reasons given by HUB make no sense unless the cards were priced too high to start with.
But we should have all known something was up with the over engineered cards and the name change to 9070 series. AMD jebaited the price upwards for the RX7800XT/RX7700XT replacements. The RX6700XT was 33% faster than an RX5700XT,the RX7800XT was 50% faster than an RX6700XT and the RX5700XT was over 60% faster than an RX480.
But even with the RX5700XT,the first picture AMD released had RX690 on it IIRC. AMD renamed it as the RX5700XT and priced closer to the RTX2070 at almost £400,despite Polaris being a sub £300 card.
AMD were trying the same and probably expected a £600 RTX5070. That means the RX7800XT would have been replaced by a 128 bit Navi 44 based card.
Now,expect AMD to push how they jebaited Nvidia with the RX9070 series.