The "16nm" node does see
some chip size improvements, but obviously not as much as a traditional node shrinks:
http://www.newelectronics.co.uk/ele...ransistor-density/59122/#sthash.yzUx2Fvk.dpuf
And the FinFET node is meant to be coming very rapidly after the 20nm node, as in within a year. Given that NVidia is rolling out a whole new line of 28nm Maxwell GPUs, I suspect that they are digging in to wait out the period until FinFETs are available. The roadmap says Pascal in 2016; that says to me that they are waiting for FinFETs.
Don't forget that the 20nm node is "SoC", i.e. low power- the high performance process got canned a while back. It's not beyond the realms of possibility that a shrink of a 28nm GPU to 20nm would give worse performance. If NVidia was going to use 20nm anywhere, it would use it on its low power mobile chips- but we just saw them bringing out a brand new GM107 on 28nm. If they want to recoup the design costs then they're going to have to not replace it for quite a while yet.