That may be true but in reality does very little to temper expectations.
The competitive landscape is very different so you're trying to draw a parallel that really doesn't exist. There are no grand expectations for Titan since the underlying architecture is old news. Great disappointment only follows grand expectations.
Also, there is no new manufacturing process around the corner to render it obsolete soon after launch. Are you expecting AMD to release a 28nm part with sufficient performance to force a price drop on Titan?
Basically we was allready know +- where was the performance, the only question was the clock speed, for get the details
whatever is / was the expectations about Titan, whatever is the performance on final, this will not disappoint anyone. Its not really a factor when it come from Nvidia. They take back the crown, and thats only this who will count. The same who was saying 2GB is enough will now pray the 6GB and whatever is the performance in addition, will just take it as the Faster card. Most who will pray it will never buy the card anyway..
I believe Nvidia count to drain the sell of actual 600 series even more with Titan.. if they not release a 700 series soon based on GK114, this will stay the affordable cards for a while on their brands.
High price of it, ensure the 680-670 price dont have to drop much.
I and many other dont have problem for buy one GPU at 650-700$ if it is the top high end available. But most gamers dont even look at cards over the 350$ ( 7870, GTX 660 (TI )), GTX560 etc ).
About AMD, well in reality im not so sure they will need so much for close the gap ( on paper, 20% shader more, same clock speed, they break the 5Tflops ), but they should better wait to see if Nvidia release a GTX 700 series first.
If they move before Nvidia, the risk is to see Nvidia release aditional cards based on GK110 between GK114 and the Titan. And Im sure Nvidia is allready looking at a second version: 3Gb, one SMX less, 80-100$ less.
With a so high priced big GK110 Titan cards and the next GK114, Nvidia have all the latitude for fill any performances or prices holes against their competitor.