It's marginally slower. Literally less than a percent or something in it. Also the 3080ti isn't almost double a 3080. £1049- £649 = £400 and £400/£650 = 61% more. So it's not even close to the 100% more you are suggesting.
Less VRAM is true but that doesn't matter because it has plenty. It's like saying my car doesn't come with a 500 litre fuel tank. Well that's because it doesn't need that much fuel. Also means less heat GDDR6X memory modules run hot and very hot indeed. 12Gb VRAM isn't an issue for me at 1440P. LHR - doesn't mean jack tbh. Ethereum mining is going dead soon so again another mute point.
I also got my 3080ti by swapping a 3080 for it. No cash required albeit my 3080 was non LHR and a top end AIB MSI Suprim X version. So cost doesn't really matter in this scenario for me. It cost me nothing well £30 postage to upgrade from a 3080 to a brand new sealed FE 3080ti.
https://www.techpowerup.com/review/nvidia-geforce-rtx-3080-ti-founders-edition/27.html
3090
1080P - 3 fps faster @ 208 FPS
1440P - 3 fps faster @ 174 FPS
4K - 1.5 fps faster @ 112.5 FPS
So yes you are correct the 3080ti is indeed slower. If you are saying someone should spend £350 more for 1.5fps or 3fps then I think it's laughable you think the 3080ti is bad value for money and slower and think it's worth spending £350+ for literally 1-3 fps. Again RAM doesn't matter these are real world figures in real games.
the 3080ti is 11 fps faster than the 3080 at all res's. Now that is a much more noticeable difference than 1-3 fps.
I agree the 3080 is the best value for money high end proposition available. But the 3080ti is essentially the same as a 3090 for £350 cheaper. You can easily undervolt it and overclock it to beat a 3090. Now what games actually need more than 12GB of VRAM at 1440P? None I imagine. Therefore I don't see this being an issue in the future either. I don't have a 4K monitor nor do I plan on buying one ever. I will do 4K gaming on my tv and console.
https://www.techpowerup.com/review/nvidia-geforce-rtx-3080-ti-founders-edition/33.html
The 3090 does run 10c cooler but the 3080ti runs cooler than the 3080. I know because I own both.
Also the 3080ti currently is mining away and it's core is at 49C, mem junction 78C and hot spot 58C. I don't think the extra cooling of the 3090 is required on this because it has less VRAM this helps keep it cooler.
https://whattomine.com/gpus
3080 makes $5 per day (ethereum)
3080ti makes $4 per day (ergo)
3090 makes $6 per day (ethereum)
Bare in mind ethereum will only be this much more profitable for 3 months when the difficulty bomb hits. Then the 3090 makes $3.75 per day and the 3080 makes $3 per day so the 3080ti LHR actually beats both cars for mining when ethereum bomb goes off. (bomb is different that hard fork to proof of stake, the bomb effects proof of work; mining)