Unless AMD are coming to the market with an alternative to DLSS, being slightly more powerful won't be good enough, since DLSS 3.0 is reported to be generically trained and therefore capable of increasing frame rates by 40%+ in basically any game.
I am all for DLSS-like tech, however DLSS 2 that is in new games is already trained in generic way and can work in any game - but only as long as devs implement it in game properly, as it has specific requirements for how game feeds it data. DLSS 3 is so far just urban legend and does not exist yet and might never exist in the future.
On the other hand DirectX 12 has DirectML technology which can be used for DLSS-like processing (and many other things), using hardware like tensor cores, etc. AMD just has to use it, that's it. And they well might - we'll find out by the end of this month. It possibly is already present and working in new xbox console.