The bigger mistake by far was launching reference cards in the first place. Just look at Sapphire Nitro RX 480 and the reference card. There are many more benefits there than just the 8-pin power fix. So few RX 480 4GB cards on sale and no $149 RX 470 4GB on sale are also eye brow raising - "what were they thinking"? They could have easily launched reference blower 480 for the OEM market and released AIB 480 into the retail space. The card would have come out performing better, running cooler, quieter, overclocking better.
The more concerning aspect is 480's terrible performance/watt on 14nm. After AIBs fix all the issues with the reference card, we still have a card that comes nowhere close to AMD's perf/watt marketing BS claims and it sets a very pessimistic tone for Vega in the future. In the eyes of $300+ buyers, would you bother waiting for Vega at all when the excellent 1070/1080 are here now? The perf/watt damage from RX 480 will also ensure AMD gets mopped in the mobile dGPU space. If you want to talk about the greatest fail here, it's actually the entire Polaris 10/11 ASIC. Its only saving grace is the low price and that's partially to do with NV releasing the most overpriced garbage in the $150-250 space since GTX760. All it takes is for NV to price 1060 6GB at $239-249 and the entire RX 480 line is finished in the eyes of the vast majority of PC gamers who view AMD as a 2nd tier graphics brand. The gap in perf/watt continues to grow which paints a very bleak future for AMD's graphics division. One may even start to have doubts about Zen I'd 14nm FF from GloFo is this bad.