The RX 6500 XT card truly has proven that the saying "There are no bad products, just bad pricing" can still somehow be wrong, even for a graphics card in 2022. Amazing.
I think it's the opposite, had this card cost a casual 70$ to 100$ bucks it could be great and finally a replacement for the terrible GT1030, GT730 and RX550 on the low end. They could even reduce the clocks a bit to keep it under the pcie 75w envelope and not require any power connectors. You'd then also actually get the same performance for less price as moore law states.
As it is, it was better to release nothing.