Or are the making real world improvements with each new driver?
They continue to improve with every iteration. Wherever they concentrate their efforts, good things are happening. For instance: they just massively improved performance in Assassin's Creed Unity and F1 '22.
For older games ARC <does jedi hand wave> isn't the card you're looking for. Well, probably not for many at least. Even GTA5 is a little disappointing. Can't max everything at 1080. It doesn't like distance scaling or high MSAA. Not that it isn't a good experience, it's just underwhelming. My GTX 1080 can outperform it in most old titles, and without any compatibility issues.
If I were looking to play older games maxed out, I'd buy a RX 6600. $180 BNIB with warranty. Why find out how much life any of the $75-$150ish GTX cards have left in them? Not worth it IMO. And stay far away from Vega56/64 since the HBM was probably getting hammered for 2 crypto booms.
For the $200 I paid, for modern titles, the A750 is a killer card. Productivity, content creation, all that jazz, ain't my BBQ.