Considering how AMD is trailing nVidia's pricing while offering (on paper) less than them on several fronts, I don't see this as a shocking revelation.
I'm saying this as recently swapping my Vega64 (gotta update the sig!) for a 7900GRE (which is hella good, BTW) and performing excellent for the price.
The fact the 7800XT and, specially, 7700XT were just "meh" on launch doesn't help. They need cheaper cards or they'll just sit on shelves. People doesn't have the kind of money to spend when things have skyrocketed.
I've mentioned this before, but how can they expect you to buy a $1000 toy? Because that's what it is for people not using it for work. Sure, there's more expensives hobbies and all that, but it's even worse when you compare it to other things you could in fact do. Cost of opportunity and all that.
I'm also willing to say nVidia hasn't had spectacular sales this gen for the same reason, compared to past gens.
What does the Steam Survey says? As flawed as it is, it still gives some perspective to how the DYI+SI+OEM market is moving.
Regards.