Let's be honest they cannot even design a power efficient GPU anymore unless they have access to newer semiconductor fabrication technology and the example is the RX 480 which while it has an improved power efficiency cannot even beat Nvidia's last generation GTX 970/980s. It's ridiculous to see while Nvidia is doing well with GTX 1070/1080 AMD release RX 480 which optimistically can match last generation Nvidia cards in both power consumption and performance.
And yes Nvidia did rebranding too but that was a while ago I'm talking about the present. after a really bad experience with power hungry 290x and Sapphire Toxic 280x which died last week I'm more than happy to get back to Nvidia.