Are the 9070's better do you know? For h264?
Here is a quote from the technical deep dive on improvements AMD made for RDNA4.
Navi 48 comes a dual media engine, each of the two can perform concurrent encoding and decoding, and so the implementation resembles an NVIDIA GPU having two each of NVENC and NVDEC units. The new generation media engine offers a 25% increase in H.264 low-latency encode quality, and an 11% improvement in HEVC encode quality. AV1 encode and decode gets B-frames support, vastly improving bitrates. A B-frame is a frame that lacks image information, but instead motion-vector values, that lets the decoder reconstruct the image component using past and future I-Frames (frames with image data). The media engine posts a 50% generational performance uplift (measured in encoder/decoder frame rates), with reductions in memory overhead.
This seems to be confirmed in reviews.