I Don't think AMD expect to sell much navi at what it's priced at, discrete consumer GPU market is tiny for them so the are just going to try and make big margins. If they don't sell, so what.
Yea I think that is the issue. The GPU market is secondary to the CPU market for AMD. The CPUs are amazing value, but the GPUs aren't really making enough of an impact.
They need to be cheaper and target the mid-range hard, which is what the vast majority of gamers buy. Though I think I'd still rather buy AMD again over Nvidia. Better drivers, long term support, no gimping of old cards, etc.