It's the latter scenario nV and AMD are banking on. Both companies benefit from an adjusted pricing scale, and have been trying to push they envelope for years. Both are sitting on heaps of capital to keep prices high until the market adjusts -- they're playing the long game. The only possible saving grace is shareholders start getting antsy if sales are low over several quarters.I think it is clear that once the initial batch sell prices will not rise like has been the case with the previous few gens. With global economic melt down incoming and AMD having 200k of these card to shift it is going to be a tough time for gpu sales. What may happen is the reference cards are just never in stock so we are at the mercy of the AIB pricing.
I think in a years time the reference ( if available) 7900xtx will be selling for £750-800 (depending on what the AIB partners do with the pcb and cooling) and the 7900xt for £600. Lets be honest this is what they should be priced at anyway. Or alternatively AMD and Nv may keep these cards priced high and just not sell them so that they can slot lower specced cards in at certain price points to make higher margins in the volume market where they earn real money.