Performance wise, I think that's the case - but they wouldn't know that until testing. They based this comparison on the MSRP, which puts the 6700XT within $20 of the 3070 - making it a fair starting point for comparison. Had the market been anywhere near "normal" over the past year or so, I would have expected the 6700XT to drop in price closer to the 3060Ti (based on performance/demand).
I got lucky and snagged a 3060Ti at MSRP, which is a fantastic card for the money (and the most I've ever spent on a GPU). But it definitely seems like the 3070 needs a bit more memory to really be somewhat "future" proof. At $400, the 3060Ti is fantastic - but I'm not sure you get a ton of extra value with the 3070 - it's probably better to hold out for the 3080 or wait for the next gen cards. I hope to see nVidia's 4000 series launch bit with more RAM in the upper-midrange of the product line. If AMD can make up some ground in their ray-tracing performance, it's going to be very exciting to see how some fierce competition affects pricing as the supply chain settles down.