Yeah... pretty much this.
Btw last time AMD undercut nvidia AT launch was with r9 390x.390x lauched at 430usd and GTX980 at that time was for 500USD.Since then they didnt undercut NV at launch.
Vega 1.5years later more power hungry and for same money as GTX1080
Furyx less Vram, slower and same money as 980TI
rx480 more power hungry and slower at launch vs GTX1060 for same money
Radeon7 2years later than 1080TI for same money
Rx580 GTX1060 performance more power hungry for same money
RX590 10% faster than GTX1060 but cost 50USD more.
Also polaris/vega is now cheap, but thats not because AMD lowered prices.Its because Mining crashed and oversupply + miners selling cheap cards from mining.They were not cheaper at launch.
Except for FURY X, Vega 64 LC and Radeon VII , other AMD GPUs had lower MSRPs than NVIDIA and launched first (POLARIS 10). Vega 64 MSRP was $100 less than GTX 1080 and Vega 56 was faster than GTX1070 from day one with only $20 more.
MSRPs
RX 480 8GB (June 2016) = $239
RX 480 4GB (June 2016) = $199
GTX 1060 6GB (August 2016) = $249, FE $299
GTX 1060 3GB (August 2016) = $199
Vega 64 LC (August 2017) = $699
Vega 64 (August 2017) = $499
Vega 56 (August 2017) = $399
GTX 1080Ti (March 2017) = $699
GTX 1080 (May 2016) = $599 , FE $699
GTX 1080Ti (June 2016) = $379 , FE $449
Anyway, AMD have to deliver something good this time with NAVI otherwise they are going to get hammered hard from uninformed consumers/NV supporters , due to 7nm vs NVIDIAs 12nm.
Even if NAVI will be at the same performance as Turing, people will say how bad AMD tech is and when NV will go to 7nm they will destroy NAVI.
AMD needs a RYZEN launch with NAVI to shake up GPU waters, to make people want to leave NVIDIA old hardware and upgrade to NAVI. Otherwise we will get the same thing as last time.