I don't think you can say that at all. The current crop of AMD cards are still very good cards in their own right. AMD did not fail when it came to those cards. Nvidia simply did better. AMD will revise their prices accordingly, and the two will be competitive again. Keep in mind, the Nvidia card isn't THAT much better. We're talking about a few percentage points increase in frame rates, and a few watts difference in power consumption. I'm not sour at all that I bought a 7950. Keep in mind, the performance differences we're talking about will not even be noticeable, especially when playing with a single monitor setup. You really can't see the difference between 55 and 60 fps.Yep, qudos to Green Team. They beat 7970 on all counts. Looks like anything AMD touches turns into Bulldozer - slow and inefficient. I guess it was strategic mistake by AMD executives to get compute power in GCN. NVIDIA moved away from it and results are showing: 680 is cheaper, faster and cooler. So, AMD has to drop 7970 to $450 and 7950 to $350 to stay competitive. That will push 78xx and 77xx further down.
Now, everyone who bought in AMD 28nm parts are sour (me included). AMD got money, but going to lose market share. Short term profits for long term loses - typical AMD management style. I have stopped buying their CPUs few years ago, I guess I have to abandon their GPUs just the same.