After the launch reviews i would agree with this. However some of these undervolting youtube vids and web reviews show some promise but only if they work with a majority of the chips. If AMD can respin and then bin the chips well enough maybe they can eek out 1080Ti performance over the next 6 months at least for one high end SKU getting all the top binned chips and getting special attention to voltage and clocks.
They can't bin the chips well enough now with a mature process. I seriously doubt we will see Vega on a high performance process unless it's easy/cheap to port to from 14LPP.
Moving to a high performance process from GF will help with clocks and may help power consumption but the yields will more than likely be worse than now, so we're right back to the overv-olting nonsense to keep profit margin high.
If the HBM problems get sorted, and they are on a new process, and they bin high and apply appropriate voltages and have phenomenal cooling, Vega may match 1080ti on performance and possibly even come close on power consumption. That said, I don't see AMD going through the trouble given that 1080ti performance on AIB cards will be had for under $700 at that point.
AMD realizes Vega is stillborn. I'm sure they are working hard to correct that with Navi but I wouldn't expect anything sooner. This is the 480 launch all over again with hopes that the 500 series would use faster memory and have improved power consumption and look how that panned out. Any refresh will basically be a re-brand.