Halo effect is important, that's one, NVIDIA has 4 GPUs above AMD's highest Navi choice, 2070S, 2080, 2080S, 2080Ti, not counting Titan RTX of course.
Secondly, looking at the market right now, that's not true, AMD still doesn't provide competition when their GPUs lack essential hardware features, NVIDIA has way options than them at every price point and is selling way more GPUs. The 5500XT had poor reception, same for the 5600XT, the 5700 series is being outmatched by the super series in sales, especially with the current driver woes, the 5700XT is the only successful Navi choice for AMD right now, but the recent driver problems have cast a big shadow over it.
Thirdly, on the process front AMD is a node behind NVIDIA as well, that doesn't matter to consumers right now, but it matters a hell of a lot more next gen. It gives NVIDIA headroom to experiment and push their advantage further.