Hmm in retrospect I'm not quite sure what you meant. This card looks to me the same fail as HD5830 for all the same reasons - performance (much) closer to HD5770 than HD6850, but price closer to HD6850 instead of HD5770, with still the same crippled rops. Add the comparatively low power efficiency (both compared to HD6850 and HD5770, though it's not as bad as the TDP suggests) and you have a card noone should be interested in buying. If the point was to beat the GTX550 though then yes it's a success (though this one seems to have got cheaper - if the HD6790 can match its price it wouldn't be too bad).
I'm thinking though AMD probably isn't really interested in making this a worthwile card to buy. They might just not have many chips which really need to be crippled more than for HD6850, so better sell HD6850 for a bit more (after all those certainly will at least not cost more to produce, depending on design they might even be a bit cheaper).