Not really. They have finally managed to reach Pascal-level perf/watt... on 7nm, competing against 16nm NVIDIA chips. It's more or less a GTX 1080 competitor

Not really. They have finally managed to reach Pascal-level perf/watt... on 7nm, competing against 16nm NVIDIA chips. It's more or less a GTX 1080 competitor as far as performance and perf/watt is concerned. So, roughly 3 years and a node's worth of uarch disadvantage behind NVIDIA. It's a repeat of Vega, where AMD finally managed to reach Maxwell-level perf/watt... on 14nm, competing against 28nm NVIDIA chips. Once again they are years late and too expensive to boot. They've managed to close the gap to Turing a little bit (because NVIDIA is still on a 16+ node rather than 7nm) but it's going to be a bloodbath when NVIDIA ports down to 7nm next year. Price is the great equalizer, but once again AMD is choosing to price head-to-head with NVIDIA. Racing onto 7nm was not a cheap move for them.