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This should have been your first comment, seems like you finally did understand.
Your argument is technically true, designing any new GPU costs money, but in my opinion it's not the same story as nvidia's RTX lineup.
I believe VII is a last minute product and Vega 20 silicon wasn't supposed to be a gaming focused silicon, I might be wrong though.
Last minute? There's no reason to believe that. I think Lisa is being as smart as she's been with the Zen launch: Hit em hard, and hit em fast, and make sure you don't sell air, but products. Radeon VII benefits from its 'hasty' launch: it needs the surprise element to sell. In the longer run, Nvidia will just eclipse it from below and from above with the 2080 and the 2070 either on price or on performance.