Nice job ignoring the difference in power usage of HBM vs GDDR5
We also have to ignore the super-low clocked Nano entirely... and the Fury X has the advantage of a liquid cooler keeping temps, and leakage, low.
In fact, a stock Fury X only pulls some 220W during gaming tests.
http://www.tomshardware.co.uk/amd-radeon-r9-fury-x,review-33235-7.html
Add 30W for RAM chips, another 15W for GDDR5 controllers, and another 15W for 80C temps, and we see 1.6969x reduced power... while clocking about 15~20% higher on average (albeit on a smaller GPU).
Still with this nonsense about RAM?
AMD's footnotes specifically mention the 2.8x in comparison between the 470 and the 270X.
2.8X is performance/boardpower.
There is NO accounting for RAM differences, there is no accounting for shaders.
Taken in account of 4 benchmarks, Firestrike, Hitman, AotS, and Overwatch.
You can make all the comparisons to Hawaii, Furmark, and RAM you want, that is irrelevant in terms of the 2.8x claim.
Interesting, using AMD's own claims you can work backward.
According to AMD, the 470 should use only 62% of the power of a 270X.
And it does. AMD is using the 2.8x in terms of performance/TDP, not perf/W. Which it looks like will align if the 470 uses around 110W of power.
So forget process and watts for RAM. Just use TDP.