Yeah the $500 7800XT is...decent, albeit I'll admit DLSS 3.5 is tempering my even mild enthusiasm somewhat. Compared directly to the 16GB 4060ti and it definitely looks good.
The 7700XT however, is bizarre. There is no reason to purchase one over the 7800xt unless the actual retail price gets to $400 quickly, which it probably will. Launching at at $400 would have also allowed AMD to compare it directly to the 8GB 4060, which they would decimate if they picked the benchmarks appropriately - which wouldn't be hard to do with highest texture settings (fair game IMO). If the split was $500/$400 then wouldn't have even needed to bring in the 4070, this would have been their 4060 lineup equivalent and would have looked far better in comparison.
So that's a lost marketing opportunity. My only guess is they can't just make enough at a decent margin at that price point.