Yeah, and there was also a point where "Kepler handily beats 7970 for 299". How quickly we forget.
I dont see the need for too much doom and gloom for AMD on the GPU front. They're in the same spot they were last gen performance wise (580>6970, 680>7970) if not a little better off as the gap seems a little less.
Their pricing looks horrible right now, but they can fix that.
The only way I can see Nvidia hurting them gravely is if Nvidia launches a price war, and I dont see that happening. Something like, 680 for 299.
Some doom and gloom is warranted though. Just keep it in perspective imo.
Hell, if you look at overall GPU market share, AMD is only rising while Nvidia is falling. Why? Because of Fusion type products, and increasingly integrated GPU's are creeping up on and obsoleting the lower reaches of discrete.