Or they needed more cache. This only has 32 GB of L2 which isn't going to do well beyond 1080p and some of the modern titles may even strain that.
Navi 22 (6700 - 6700XT) which was aimed at 1440p and had a 192-bit bus, still had at least 80 MB of Infinity cache. These NVidia GPUs are basically the same as Navi 23 where it's a 128-bit bus and 32 MB of cache. Those are obviously not aimed at any kind of serious gaming above 1080p.
Locuza modified a graph that AMD put out to show how infinity cache performed based on resolution.
The differences in design could alter the results, but at 1080p the 32 MB cache from Navi 23 has a 55% hit rate. At 1440p this drops to 38%. The full 96 MB of Navi 22 has a 69% hit rate for 1440p titles.
The other problem is that NVidia opted to use cheaper memory for the 4060 Ti. If the used the same faster clocked memory that the 4070 has it would offer a ~15% increase in bandwidth which would probably go a long way to help alleviate a lot of the performance issues that this card is seeing.