A lot of gloom and doom here, but as I said I fully expect the top Vega card to beat the 1080ti in DX12 and Vulkan games. We can see from the refresh of Polaris, that at higher clocks the 580 gets significantly ahead of the 1060 in DX12 and Vulkan games, before it was equal in games like Forza 3, The Division, GOW, CIV6, while now the 580 is consistently ahead by 3-5 frames and obviously custom AIB cards with out of the box OC to 1425 and higher offer even better performance.
Sure the new added performance comes at a consumption cost, about 50W more than the 480's across the board, but it goes to show how fast AMD is under DX12 and Vulkan.
And those are just the closer games, games like Sniper Elite 4, Total War, Hitman, Doom, BF1, etc... perform up to 12-14fps faster.
In games like Doom and BF1 an overclocked 580 to 1470MHz comes at a striking distance of the 1070FE.
The issue will be in DX11, we can see that overall if the game is not specifically to the maximum optimized solely for AMD cards, AMD tends to lose in DX11 in 90% of the games.
So again the top Vega I expect it to be up to 15% faster in DX12 and Vulkan and up to 15% slower in DX11 games. Across the majority of games I expect the difference to be around 7-10% going in each others favor depending on API and game.