I don't think this is necessarily true at all. In fact I think many of you are making a massive error in assessing this situation and thus don't understand why the gtx 970 is the midrange king.Exactly, we don't need to lower power consumption, it's already very low and gamers (GP104 target) do not pay for lower power consumption, they pay for performance.
People use oem psus or small psus. I see people with sub 500 watt psus come in here all the time.
By having very low power consumption it means that potentially a person with an 500 watt psu could walk away with even two higher end gpus.
It just allows amd and Nvidia to sell higher priced parts to a larger market.