That less expensive RTX 4080 is exactly what you said, "disappointing." Nvidia decided to take their RTX 4070 chip and make it a less expensive 4080. I wouldn't give Nvidia that much money for a 70 series card masquerading as an 80 series card with only 12GB vram. They are forcing upgrades sooner by providing less vram. 24GB on their flagship GPUs is impressive and something to consider if long-term usage is a factor. On the other hand, I'm sure the 4080 12GB may be faster than the 3090 by a margin; however, I like the idea of standing on principle that holds more value in the long-term.
*Edit: From the looks and sounds of the RTX 4080 12GB around the web , speculation has its performance to be sitting somewhere around the RTX 3080 Ti in pure rasterization performance. This is excluding DLSS 3 comparisons, which is the proper way to compare two video cards considering that only a handful of games use DLSS anyway. Nvidia is pulling a veil over our minds to convince us to buy their products and play the games that cater to their products. I, personally, do not want to give them any money. I do not want to feed a monster that sees their product as a way to create new, more expensive needs instead of meeting the existing needs of their customers.