AMD what are you doing... get your priorities straight. Your market share is dwindling from low to nothing and you pour money and time into R&D for a new model that literally 10 people will afford when it hits this market at $5K above MSRP, when you should be busting your balls restocking current models for normal prices. Maybe start bidding for Arm ltd. as well. What a joke!
Yes I'm salty i can't upgrade my rx480
This card would have hardly any additional R&D cost put into it, since it sounds like it uses the same graphics chip as the RX 6900 XT / 6800 XT / 6800, just with minor improvements to the speed of the memory chips and clock rates. It's little more than a minor refresh of their top-end card, judging by the information presented here.
And as such, I would not expect it to "crush" the RTX 3090 by any means, as the existing 6900 XT already tends to be a little behind that card in terms of rasterized performance at higher resolutions, and further behind with RT enabled. Increasing clock rates a little could potentially allow it to roughly match the 3090 more often at 4K, but isn't going to vastly improve performance, nor will it make the raytracing significantly more competitive. And it's questionable how much the faster memory would even help, seeing as one of RDNA2's big features is its large "infinity cache" to allow the card to be less affected by memory performance. I would be surprised if the XTX version of the card managed to be much more than 5% faster than the XT.
In any case, at their launch MSRPs, the 3090 was arguably an overpriced product compared to the similar-performing but far less expensive 3080, and the same could probably be said about the 6900 XT compared to the 6800 XT, albeit with less of a price difference separating them. With limited production capacity available though, AMD undoubtedly wants to focus more of that toward their highest-margin parts. And even their high-end graphics chips undoubtedly bring them far less profit per wafer compared to their CPUs built on the same process, so those will get priority. It would be kind of pointless for them to focus on lower-end cards right now when crypto-miners would cause their prices to double anyway.
It's not like Nvidia has any reasonably-priced budget cards readily available at the moment either. Even for RX 480-level performance, you would likely be paying over $400 for a GTX 1650 SUPER right now, roughly double what an RX 480 could be bought for five years ago. Anyone concerned about value should avoid buying a card for now, and AMD doesn't really have the manufacturing capacity to increase supply enough to turn that around.