I don't think that's necessarily true though. AMD was ahead of the node transitions for so many years, even with their flagship cards, and nVidia still came ahead. Even during the Fermi days when nVidia was like 6 months behind AMD still only managed to get like 50% marketshare and they had nVidia beat on every single metric except for raw performance. People like to perpetuate AMD's power consumption, but Fermi was way worse relatively speaking. So even when they have a competitive product with better price/performance and performance/W, they still get swallowed up by nVidia's marketing and mindshare. Either that or people just wait for nVidia's responce.
Now they're focusing on the mainstream where you move more volume and can get OEM/mobile wins. They just don't have the money to do a complete top to bottom refresh, so they get the smaller chips that are (I assume) cheaper to design and validate while they take their time to not botch their end high end cards like they did with Fiji and to an extent Hawaii.
I don't know whether this is a good strategy or not. I guess time will tell.