I calculated with 20% VAT,it will be £580 at the current exchange rates.
Basically yes. But it's worse when you realise the RTX4070 is really an RTX3060 class dGPU. So you have a salvaged 295MM2 AD104 which replaces a salvaged 628MM2 GA102. But more importantly,the RTX3080 had a 320 bit memory bus,at a time GDDR6 was expensive and needed 10 VRAM chips on the PCB. The RTX4070 has a 192 bit memory bus in a time where GDDR6/GDDR6X costs less,plus it needs a much cheaper PCB and cooler setup. It only needs 6 VRAM chips on the PCB.
Your average consumer won't realise this, the only numbers they will see is its cheaper than a 3080 and gives relatively the same performance. They just won't realise how bad the gpu really is and how much of a con it is.