Agreed; I know that if the main option is AIO, I won't be buying any AMD GPUs. My case won't fit them (it can only fit a 1x120 without a lot of work. Silverstone FT02.
I'll admit that I rallied against the idea in the past, however, based on what various leaks there have been, it would seem the upcoming chip will have a similar power wattage to current day chips (perhaps a touch more?), so I suspect the AIB partners will be able to pitch cards that have standard coolers.
How well they handle the heat, and how much overclocking room they provide, that obviously will remain to be seen.
I hope partners like MSI and PowerCooler can provide strong standard coolers, because yes, I fear a requirement to have AIOs.
I myself am considering an AIO for my top card, as I have MSI 290X Lightnings in Crossfire. As both are tri-slot coolers, the top card has no breathing room thanks to my motherboard's spacing. My CPU cooler is massive, but I'd rather keep that than juggle multiple AIO coolers, especially as this one covers my OC, and even AIOs barely outcompete it, so why mess with it? (Noctua NH-D14).
Just about my only option to fit an AIO cooler in my case as it stands now, would be to add a Corsair H100 at the top of my case. The airflow draw would be tight against the NH-D14, but being able to spread the heat to a thinner 240mm radiator would go a long way.
The big thing will be to get a cooling system that will accommodate a 290X Lightning.
In case this seems too negative, let my expound on this issue.
My bottom 290X Lightning performs admirably, with minimal fan speed increases it maintains under 70ºC at the stock 290X Lightning clockrates. I'll have to test how well it tolerates a decent OC before it gets obnoxiously loud, but with ample breathing room, these cards perform wonderfully (based on the reference 290X, which is designed to ramp up to 90ºC or higher before the fans crank up, this GPU cooler is something akin to magic).
Put one sandwiched against another with basically a few millimeters of breathing room, it doesn't cool down as efficiently. The air also sounds a touch bit turbulent, which would make sense considering 3 fans are trying to draw air out from a gap that really should be larger.
Point being, for a certain aspect of the market, AIOs will be great. And I fully expect at least a few AIB partners to sell some standard air coolers. I have my suspicions that say that the entire market won't come to the rescue of the air-cooler fan, but I think there will be at least a few cards.
Also, lest anyone forget, we don't have a guarantee that reference cards will actually have an AIO. That could be a special chip, or a single-slot reference when they also have a dual-slot reference air cooler. I doubt the former but would be excited to see that, as usually these AIO coolers have the pump integrated into the heat spreader.