I would love to see AMD launch first, but they probably won't. Radeon 9000 sales numbers are good, RTX 5000 is nothing special, many RTX 3000 and 4000 owners did not bother upgrading.
9070 XT is a 5070 Ti competitor (hence the 70 moniker / new naming scheme) and when looking at perf/dollar it competes with 5080 too really - 5080 was highly disappointing this gen (Should have gotten 20-24GB VRAM)
AMD does not have to compete with 5090 whatsoever. This card is a niche card, bought by 1% of PC users and many use it for work, not just gaming. Very few people actually buys 5090 just to play games.
99% of PC gamers, buys 5080 and below. This is what AMD should care about: Competiting with 50, 60, 70 and maybe 80 series. Stuff like 80 Ti or 90 Class AMD don't need to care about, it is 1500-2000+ dollar GPUs, niche market.
AMDs goal with Radeon 9000 was to grab marketshare. It worked. AMD almost at 20% GPU marketshare on Steam now. In a quarter or two, they will probably be at 25% or close if Nvidia keeps failing. Radeon 9000 outsells RTX 5000 due to availability and pricing right now.
Nvidia don't care much about consumer gaming GPUs. Sadly AMD probably don't care much either, yet they still offer the best perf/dollar card in Radeon 9070 XT and 9070. Very easily beats 5070 Ti and 5070 on perf/dollar and 5070 Ti pretty much went EOL because Nvidia rather wants to sell 5080's
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