AMD still seems to be behind in terms of architectural performance. Their 7nm chip is matching a 2080(12nm). Nividia 7nm's chips will probably leap well ahead again...
Nevertheless, for the moment, these are excellent news! It would be very depressing if all AMD had until Navi was the Vega 64.
Regarding it competing with RTX2080, nvidia made it easier this time around (not on purpose of course) directing resources for Ray Tracing instead of further pushing performance on traditional rendering.
I wonder if the profit margin on the Vega 64 is actually very close or higher than what nvidia gets with the much larger RTX2080 die... They can make more on each wafer at least..