It's only astounding if you are thinking about this being in a desktop.
Not really. If you assume the density (i.e. nodes per rack) of the new generation will be at least the same as the current one, then it would likely represent a net increase in power consumption by data centers. That's not exactly surprising, but also not great news.
For a high end server system as long as the perf per watt and size per watt are better than the last gen it's good.
More perf/W is certainly nice, but if the speed of deployment is limited primarily by the supply chain, then power dissipation by AI will increase at a faster rate than currently (assuming they eventually reach similar production capacity of these chips as of Hopper models, currently).
However, if Nvidia were somehow stuck on Hopper, for a few more years, market dynamics should achieve efficient allocation and incentivize efficient use of those resources.
The question is are they doing that or are they just cranking up the clocks to push off AMD for a while as they prep their next big architecture jump.
They're quite simply trying to deliver the maximum perf/$. That means running the highest clocks possible, in order to extract the most performance from a given silicon area. This is the world we live in, especially with AI being so area-intensive and fab costs increasing on an exponential curve.