I don't doubt that there is some exaggeration but fact is fact and it was not so long ago that the AMD fanbois were singing the same tune about frying eggs on the nVidia 400 series. We see this stuff from both camps but it doesn't change anything. In the end, test data is test data and sales are sales . In the last 18 months, Intel has been the only "winner" increasing their market share from 13.57 to 18.92%. As of March 2013, AMD held 33.74% of the market, now it's 29.65% while nVidia has gone from 52.26 (155% of AMD) to 51.06 (172% of AMD)
The 780 draws 231 watts and produced 37 dbA / 80C
http://www.guru3d.com/articles_pages/geforce_gtx_780_review,10.html
The 290x draws 286 watts and produced 43 dbA / 95C
http://www.guru3d.com/articles_pages/radeon_r9_290x_review_benchmarks,10.html
That's 23% more power, 19% more heat and that has the 290x equivalent to two 780s in SLI
http://www.engineeringtoolbox.com/adding-decibel-d_63.html
Yes, we all know that these are the reference designs and we all know that both sides have made better coolers. It's also true that the 290x is faster than the 780 outta the box but the overclocked 780 tops the 290x overclocked at resolutions up to 2560
https://www.youtube.com/watch?v=djvZaHHU4I8 (8:40 mark)
It was also shown, and this is a lesser known fact, that when put under water, the 780's performance improves by about 9% and the 290 improves by 7%.
At least from my perspective, it's not about arguing that those differences don't exist or are somehow irrelevant ..... it's about what AMD has to do to make them go away. This water cooling approach is potentially a great way to accomplish that.
With the Swiftech H220-X providing AIO cooling to the CPU, it would be great for AMD to provide a cooler similar to the Asus Poseidon (780) which works under air or water cooling. An "add on" kit which supplied a few feet of tubing and the fittings necessary to connect the AMD card to the Swiftech AIO would be minimal cost .... Swiftech's new AIO is selling for $140 and would cost $230 if bought separately(40% discount). With 290x Poseidon, ya would need to add a $55 radiator, $20 worth if fittings and $10 worth of tubing ... with the same 40% discount, that's a $50 cost. That puts the cost of "real" water cooling both CPU and GPU under the $200 price point assuming you front mount the GPU cooler behind the two front case fans.
Looking at the Asetek alternative, we have Asetek coolers (2 x 120) at $100 cooling an 84 watt (135 say OC'd) Haswell. With a 286 watt 290x, that would equate to 4 x 120 but what we saw in the R9-295x2 was just one 120mm rad which resulted in the same 43 dbA noise levels .... not bad considering it's the heat output of 2 GPUs but not exactly breaking any ground. A crossfire build with two of these and a H100i ? That's 3 pumps, 3 separate systems. Doesn't seem like the right way to go.
That's why I think the hybrid air / water solution as done on the Poseidon makes the most sense. There's a $20 cost difference between the Asus 780 and the 780 Poseidon. That $20 would have minimal impact on card cost and put a severe dent in the temperature and noise differences between the platforms. The $50 add on kit is way way cheaper than the premium for a Hydrocopper or custom block + radiator and cheaper than putting a pump on each card.
On the other hand, after Asetek's patent troll action on Swiftech last year, I don't see the two companies being involved in any joint venture. OTOH, Asetek I expect needs to come back with an answer to the 220-x and if they do an open loop system of their own on CPUs, then this is a great way for both companies to make a splash.