Across a wider range of titles its performance is very hit and miss - while it can keep up with the 1070 in some stuff it really falls down in others and it is propped up quite a bit in that review by not falling down quite as badly as some of the other cards in 4K in some titles such as https://www.techpowerup.com/reviews/MSI/RX_580_Mech_2/12.html
It should have been possible to make a much more consistently fast card from it even with the problem of being stuck on 28nm.
Being stuck to 4GB? Has anyone said what it would have been to have Fiji with 8GB/12GB and more bandwidth?
I think it's quite explainable considering AMD's choice to focus on Zen. GCN was at the end of the road, development became a lot harder and they simply didn't have the budget to make everything work.
Zen real development and costs ended with Keller's departure. That is many moons ago and doesn't explain why 2-3 years later, the situation is even worse.