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I know costs are higher than before. But this card is a 64 bit memory bandwidth card, small die, and 2 memory modules. Yes that costs more than it did 5 years ago. But that doesn't come anywhere near explaining it unless TSMC, Samsung, Micron etc. have increased their prices several multiples since then.
The only people this makes sense for is people with no pre-existing hardware which will be a very small minority of current gamers. Yes kids buying new systems will need something.
Here is the TUF card which is more premium. $200 even for this premium version?
The RX6500XT is really an RX560 successor by specifications.