If they had a die shrink 2048 tonga would have been 200mm with power draw of around 100-130 real watts. I'm aware of the denser lithography, it's also similar to the carrizo using gf28shp to rescale it's self denser at the sacrifice of clockspeed over kaveri.
A die shrink was what AMd were relying on, this is where NVidia excelled AMD by re-engineering on an old process without sacrificing clockspeed. As AMd have less efficient shader throughput they require a larger die to gain parity/compete with nvidia.
It is certain that a die shrink is needed far more for Amd than NVidia, unless AMD can either rework gcn or create a new architecture
I don't know why you are bringing CPU's on different manufacturing nodes even relative to eachother, your just comparing Apples to Oranges, its not relevant all it does is add an irrelevant curve ball to confuse the argument.
Its actually the other way around, AMD have packed more GPU on the same size die than Nvidia (certainly Kepler), the clock rate differences are nothing to do with with those dies or the transistors on them.
Nvidia have a new firmware power delivery system with Maxwell, its able to switch between high and low power states at very high frequency resulting in low average power consumption.
But its only able to do that in a (goldy locks zone), overclocking, even some factory overclocked 980's run at 250 Watts average power draw, just like a 780TI, tho the 980 having higher clock rates.
There isn't actually that much architectural difference between Kepler and Maxwell, aside from Maxwell having better Texture compression technology (just like Tonga)
Its able to clock higher than AMD's current line of GPU's, and Kepler purely because of its power efficient firmware, that allows it to run higher clocks.
A 1500Mhz 438mm2 290X would be faster than a 1500Mhz 398mm2 980.
There is nothing to stop AMD from introducing their own power efficient systems.
Pre- 290X it was said by some in here that such a GPU could not exists on the AMD side, to match or beat a GTX Titan because it would have to be to big, such was the confidence of these people.
In the end AMD had a GTX Titan of their own and it was much smaller than the Titan. Shock!