It makes no sense at all why they would have priced it higher than $499 to me. They admitted they have adjusted the naming to align with Nvidia's competing parts. Last gen the 7800XT, a $499 part, competed with the 4070. So why would they try to price this any higher? Clearly they were banking on more greed from Nvidia. The norm has always been more performance for the same money. I really don't care if their card sometimes performs like their old $1000 rrp card (at launch over 2 years ago), $499 or less is the price it needs to be in the current market.