AMD's MO has always been about doing more with less (or in many cases generalized hardware). Its the Alton Brown GPU design philosophy: never have a single purpose compute unit in your GPU, everything should have at least 2 or more functions at any given time.
I think its just the product of being the underdog and market follower. 10 years of having to be outrageously cost conscious against their competition everywhere will do that to a company.
That's a lot of words to say I'd bet dollars to donuts that AMD is not putting in any fixed function tensor hardware into their GPUs.