I',m a bit confused - if the 0.5gb above 3.5gb is the same memory bandwidth as the rest of the VRAM
why partition it off ?
and why not on 980 ?
See kaaps post above, it's down to how the disabled modules effect memory allocation/management on the 970, it's not an issue on the 980 as its a fully enabled part.
As a result the memory is allocated in two portions, a primary block of 3.5gb and a secondary block at 0.5gb, it would appear no monitoring programs can natively detect this 0.5gb making it appear the card has only 3.5gb usable vram.
It would also appear this memory management method gives circa 3% less performance then a card (980) with the full single memory allocation.
Of course this is the most factual (and repeatable) explanation yet, alternatively you could believe nvidia have intentionally ripped thousands of customers off, kicking a few puppies along the way

It always entertains me when one set of people instantly think the worst of one of these 'faceless corporations' to suit their own preferences and agenda.