Should be....
Unless intel release something to really shake it up they will price fix all the way to the moon imo.
Then I have a 50/50 chance of buying one myself and the RX9070 will probably be a sales failure compared to the RTX5070.The RTX5070 will be be probably close to the RTX4070TI,ie, not much slower than an RX7900XT.
Nvidia not only has a more mature and well developed software stack, their features are better integrated into games too. The RTX5070 cards are physically smaller and probably will consume less power too,so will be easier for people to use in their systems.
The RX9070 series cards not only look huge but need a minimum of two 8 pin PCI-E power connectors.
Ever since AMD priced relative to Nvidia they lost marketshare. They need to price relative to their own stack!
With inflation, then £400 in 2019 would be about £530 now. Remember inflation is cumulative.
You say that - yet lots of other PC parts I have gotten deals on. It only seems graphics cards and Samsung/Apple mobile phones seem to have this hyperinflation.
Both Nvidia and AMD have huge margins. IIRC they are on the level or even more than Intel was having when they made quad cores for years and milked the market.
Even AMD probably jacked up the price of the RX5700XT. One of their early promo images had RX690 on it - the chip in it was a Polaris sized one and Polaris was a sub £300 series of cards.
Nvidia,OTH,jacked the priced up of their cards during Turing. So the RX5700XT was marketed to "match" the RTX2070. If Turing had been a normal generational uplift,the RX5700XT would have been a £300 card. The RX5700XT was on a cutting edge node too.
What we have had is two performance stagnations in the last decade - Turing and Ada Lovelace. Plus we had the price inflation of the Pandemic which apparently graphics cards haven't recovered from.
The RTX5070 is what a 60/60TI series card used to be,if looking at the hardware configuration. It really is an RTX3060/RTX3060TI series replacement at best. The node Nvidia using is not new anymore and pricing would have dropped too.