Of course it is. I hate seeing NV rewarded by 980 Ti owners for producing a card that's more expensive and not anything close to a worthy successor (and it doesn't need to be as an 04 card). $700 for 10 FPS? Why would anyone do that? Just turn down settings, pay nothing and notice nothing. It's the same effect (nothing), but for free.
And maybe when the time comes for a 980 Ti successor to be released, and railven along with enough other people have decided that 04 cards aren't worth $700, you'll get something more for your money, and so will the rest of us.
Spend the $700 on a nice 1440p G-Sync display, or an Ultrawide display, put it toward an OLED TV, or an Oculus/Vive or another 980 Ti or 12 AAA games. Way more value, you'll notice something rather than nothing, and apart from that, they're just great toys (or at least, they have a chance of being). The 1080 isn't. It overclocks 10%, has GDDR5 and looks like a 980. Building a whole new $700 PC would probably provide more enjoyment, even if it's not practical.
railven doesn't want the 1080, nor do any other 980 Ti owners, they want a finfet card that destroys the 980 Ti. The 1080 is not that, and once they get the 1080, they aren't going to come to any other conclusion. It's going to be a disappointment. Why not just wait and get a satisfying upgrade instead? When the 1080 Ti comes around, it'll be a disappointing 20-30% upgrade. You'll never get that experience of popping in a new truly powerful piece of hardware again. I remember when I replaced my 6670 with a that was great I got to play at 60 FPS for the first time ever. I remember buying a 144Hz monitor and playing a game at 100 FPS. That was amazing too. What I don't remember is replacing my two 670s with a 980, or replacing my 144Hz monitor with a 1440p 60Hz one. When I get a GP100 or a Vega, I'll remember that and I'll be happy (or maybe I won't because I barely ever play new games).
NV can of course price whatever product they want at whatever price they want, but I'd like to see people stop buying cards just have the latest numbers in their sig. It isn't worth it.