I almost wish that it was price fixing, at least then we'd have hope that somebody would catch them at it. No, this is much more nefarious: lack of competition and relatively low supply. If AMD couldn't sell their 79x0 cards for these very high prices, then they would lower them. That won't happen as long as kepler is just a rumor at obr and tsmc is still getting production ramped up. Prices will natually soften up later this year as production increases and we start to get more concrete info about kepler, and they could (hopefully) really drop if kepler has a direct competitor to 7970 (as we've seen recently with gtx 570 vs 6970 and gtx 470 vs 5870). Only thing to watch out for is if the bitcoin/amd love affair continues, then amd prices might be artificially inflated again as they were in 2011.
See that? A completely logical explanation that doesn't involve any sort of conspiracy whatsoever. That doesn't mean that there isn't one, but I wouldn't waste too much time on this one.
You know, that would all make sense, except for one thing. The GTX580 still costs $480:
http://www.newegg.com/Product/Produ...33&IsNodeId=1&bop=And&Order=PRICE&PageSize=20
People say it's going EOL, but there are still 19 models available on Newegg. If the "direct competition" argument held up, the GTX580 would already be down to about $420. But if anything, it's gone up since the 7950 came out.
Here's my cynical viewpoint: everyone knew that the GTX580 was overpriced for the last 6 months of 2011. Who knows whether it was selling well...the one thing we all know was that it was the benchmark for the 7950 and 7970 prices. All the review sites gushed at how well-priced the $550 7970 was, and many (but not all) exalted AMD for pricing the 7950 so fairly (i.e., at the same price as the GTX580 for roughly the same or slightly higher performance).
Does anyone see the pattern here? GTX580 stays put at an inflated price until AMD's cards come out, and makes AMD's pricing look wonderful. GTX580 continues to stay put despite being clearly overpriced in February 2012, until Kepler comes out with similar performance at the same price or higher performance at a higher price.
Hate to say this, but the glory days, kicked off with AMD's small but mighty HD4870, are all over...I don't think we'll see HD6970/GTX570 levels of performance under $300 MSRP in this generation.