I do wonder if the current supply situation will have both NV and AMD extending the product cycle out a bit further for this gen.
If people are willing to buy your old stuff at MSRP two years down the line, might as well sit on the next gen a bit longer and start working on the next thing.
NV and AMD are acutely aware of that the end is silicon is nigh, no point rushing to get there first when we don't have a good replacement in the pipe.
Depends on capacity. Sure they could keep pumping out 6k series cards and Zen 3 parts on 7nm but if they can gain more capacity and sell more units by having a 5nm 7k series GPU and Zen 4 it might be better to move to that as fast as possible to get the volume.
I would expect AMD want to increase orders with OEMs and increase those kinds of partnerships so increasing the number of units produced is probably better for AMD right now. If they were in Intels or Nvidias position then holding out a bit longer with the current gen stuff could work fine.
EDIT:
RDNA3 2.5x - 3x perf increase speculation. I am very doubtful for pure raster performance. Even with another 50% perf/watt increase which I see as entirely possible it would still top out at around 2x with a 400W TDP while making the assumption that the perf : power scaling from 6700XT to 6900XT holds true for 7700XT to 7900XT and the 7700XT has similar to 6900XT performance.
I do see it as more possible if this is with RT turned on but I think it still needs a TDP increase to at least 350W to pull off.
I guess the other option is 5nm may give AMD the ability to do much better than the 50% perf/watt target but I only see that as possible if they go wide / slow so you have 3 GPU chiplets + IO die for 240 CUs at conservative clock speeds.
I really don't think AMD can get more than a 2x raster uplift and I think doing that will need a large TDP increase. 2.5x performance with RT on I see as far more doable. This is all subject to change when AMD announce their perf/watt target for RDNA3 because their previous public targets have been on the money and we can do some napkin stuff to get ballpark performance at various TDPs.