Isn't the Arc A770 significantly cheaper than a 4060Ti 16GB?
I was thinking the same thing, I just got mine (the Predator BiFrost) for $280 and it got as low as $240 for a bit during Black Friday. I don't think it's a waste to have potential future growth for the hardware you're paying for, it's probably pennies for them to get those higher capacity chips, they're just being greedy.
If course, the actual horsepower the card produces is still a huge bottleneck when paired with my 5800X3D, but I knew that, and I was tired of the other two milking these cards' prices, I wanted an upgrade to my GTX1070 that was under $500 (RIP RX7700XT), and something that may have some room to improve (which seems to be the case with improved drivers).
I refuse to overpay for these cards from any company, clearly their margins are not suffering, it's just greed dictating these prices.