I saw a RX 6600 (Mech) yesterday for around £350, which I think does represent some progress from cards like the GTX 1080, which was slower and priced at £440 when my brother got one.
You can get a RX 6600 XT for a similar price to what the GTX 1080 was priced at. There's also been some inflation since this card was released...
The main difference when it comes to spec, seems to be clock speed for new AMD GPUs, which is quite a bit higher than cards from a few years ago.
I think what people really want is RTX 3060 TIs or RX 6700 XTs for around £440-£450... It takes a lot more GPU power to power games at 1080p (on top presets) than it did when the gtx 1080 was released.
Cheapest 3060 TI I've seen was £540, so prices need to fall by at least £100 on these cards imo.