Ok, I'll try to make it as clear as possible. There are 3 ways to look at the price of HD7950.
View #1: Which is if I understand correctly is your view:
"Which is the best card to buy today at $450-500?"
HD7950 is the best card today at $450-500 = almost everyone agrees. Not a single person here disagrees with that assessment and hasn't since HD7950 launched. Based on GTX580's $450 price, HD7950 at $450 is reasonably priced today.
View #2: What a lot of us have been saying for the last 2 months since HD7950 launched to understand if its price makes sense in the historical context and in terms of technological innovation:
"How much faster should next generation be based on a node shrink + new architecture and in light of historical price/performance curve and Moore's Law and what we have seen in the last 10 years of generational leaps?"
= HD7950 doesn't live up to that expectation and therefore is not appropriately priced in this context.
Therefore, HD7950 is severely overpriced based on the technology curve, Moore'se Law and the assumption that technology gets cheaper for a given level of performance or much faster at a similar price level. This applies to tablets, smartphones, laptops, CPUs, RAM, SSDs, etc.
And there is actually a 3rd view which relates to lack of competition and 28nm supply constraints.
View #3: "In the absence of high-end competition from a competitor, and lack of 28nm capacity at TSMC, AMD can afford and should price their cards as high as the market will bare to offset their higher manufacturing costs at the beginning of the 28nm ramp-up and to maximize its profits for as long as possible."
Based on View #1 and #3, HD7900 pricing is 100% justified.
Based on View #2, HD7900 pricing is not justified.
When we are discussing why we think HD7950's price makes no sense, we are coming from View #2. And that's exactly why the discussion about GPU cycles vs. consumer readiness to buy came up.
When we discuss our viewpoint, it's not from the context of what "we expect" like a charity as many people here claim. It's 100% from a context that technology should get cheaper over time OR much much faster (for GPU generations that's about 40-50%, for smartphones that might be going from a single core to a dual core, etc. each market segment varies). HD7000 series as a whole fails to meet that historical criteria without resorting to required overclocking. Which means from a technology curve perspective, it's either too slow, or too overpriced.
What you aren't understanding is that it's not "OUR perspective" but how the world of technology works.
Does that clear things up now?