The thing is, at the time, I don't think it was actually true, not like it is today. Compare, for instance, the GeForce 4 vs. Radeon 8500. The GeForce 4 was a refresh of the GeForce 3 architecture, while the Radeon 8500 was a brand-new architecture that came out within a few months of the GeForce 4 parts. Yes, the 8500 was more feature rich, but this is more because of the fact that it was released over a year later than due to any sort of difference in design decisions (although there were differences in design decisions, of course).
Then again if you look at the Radeon 9700 and its derivatives vs. the GeForce FX and derivatives, well, the FX just didn't perform, so it definitely didn't fit this.
And when you look at the GeForce 6x00, when that first came out it was still competing with ATI's own 9700 derivatives, and so it was quite a lot more feature-rich (and also higher-performing). Later, when ATI released their own SM3 parts, obviously nVidia lost this advantage.
So basically, nVidia and ATI have been enough out of sync that we never really saw much of any "raw power vs. features" competition directly. Instead they leapfrogged one another in both features and performance.
This time around, by contrast, the GF100 should have been released at almost the same time as ATI's new architecture. It ended up a bit later, of course, but we can be pretty darned sure that no new features have been added to the GF100 in the mean time. So this is a true competition in design strategies, and those design strategies are quite transparent: ATI has gone for a much larger number of less flexible units than has nVidia. They have, in effect, gone for much higher raw performance (even if said performance isn't realized in real-world situations), while nVidia has gone for lower raw performance but instead sought to get better performance in the end through better use of the available compute power.
Please bear in mind that I never meant that nVidia has actually shot for a lower performance target. That wasn't my intention at all: I'm sure nVidia is every bit as interested in attaining the performance crown as ATI. I'm just saying that their way of going about it has been rather different.