I doubt retailers would be scalping, at least in some regions/country.
MSRP is respected in France for 5070 and even 5060 Ti (both 8 and 16GB models). 5070 Ti demand though is high enough to not systematically warrant a drop to MSRP (€880, equivalent $750 converted + 20% VAT at release day). Some retailers though are willing to offer sub-MSRP 5070 Ti if you can go directly in their physical shop, from time to time.
I don't know if it works like that in other countries, but France forbids retailers to sell at a loss,
regardless of the products they sell (some exceptions exists, but most of them are about perishable products), the price taken into account does exclude transportation/import fees, financial advantages and some other things. Even wholesalers can't sell their product for a price that is below 90% of the price they paid for. The
only exception is during sales periods, which are also defined by the government, for equality between every retailer (physical or online) - read it as "keeping the market fair and competitive" basically. And even then, some conditions apply, as
explained here.
Very rough and quick translation to get to the point : Retailers must have obtained their stocks of products and put them for sale at least 1 month prior to the beginning of the sales period in order to be able to sell them at loss, sales price is only for a part of the inventory (not the whole stock of products), and with no possibility to restock. It is also forbidden to order a product solely with the goal of selling it during sales period.
The fact the 9070 XT doesn't drop below €780-800 for all 2-3 major PC tech retailer chains (+ Amazon) in France tells me they're most likely currently blocked from doing so, either because it would eat in their margins
(most likely scenario), or simply because they paid so much for them so they can't go lower (and then, we could wonder what was the initial target price before the rebate). In both cases, you need to consider VAT since the government takes (part of) it back from retailers. But 5070 Ti models going below its €880 MSRP also means they have some price room to maneuver with these models in the first place. Summer sales will officially start on the Wednesday last week of June so if my understanding is correct, our tech retailers in France could be forced to keep these 9070 XT prices up until then.
AMD may have really screwed us up in France.