No history does matter because in the past existing tech would drop in price
before a new node because consumers would stop buying. Rational consumers would recognize that manufacturing node gets cheaper over time as yields mature and would demand price drops. NV and AMD delivered. In the past we didn't know when 90nm would be replaced by 65nm, when 55nm would be replaced by 40nm and when 40nm would be replaced by 28nm. Therefore, the same factors that are in play today have been in play in the past. What is different is in the past PC gamers would stop buying old tech at 12 months old prices because they recognized that's not how the GPU industry has worked for 15 years+. What you are saying is now people said screw history and let's pay high prices for old tech because we don't know when 20nm tech is coming? That's not logical since we were all in the same spot during 90nm, 80nm, 65nm, 55nm, 40nm transition periods too not knowing exactly when the next node arrives. The arrival of the next node is never a certainty but we have a rough idea that every 24 months new tech arrives. In May 2013, paying $410 for HD7970GE that's based on essentially a January 2012 HD7970 and $360 for a 12-months old GTX670 is crazy talk. That's just as bad as buying GTX580 12 months after launch for $450.
I am not even discussing those cards. I am not sure why you constantly keep bringing them up. But since you did bring them up, why is it GTX690 costs $1,000 when GTX670 SLI can be had for $720? Regardless of GTX670 SLI vs. 690, why is GTX690 still $1,000 1 year later? There is no way it costs NV and AMD the same money to fab 294-365mm2 chips 12 months later. Why is HD7990 still $1,000 when it's 1 year late and when 2x HD7970 GEs are $820?
In the past people would never have paid $200-300 more for HD5970/GTX590 when HD5870/GTX570 were going for $330-350. HD5970 was $599. Fact is consumers if consumers are buying at these prices in 2013, they have to be to blame since they are willing to get bent over unless you believe that for the last 15+ years NV and AMD have been underpricing videocards and that flagship cards like X1950XTX, 8800GTX, GTX280, GTX480/580 should have been $1,000? In other words, you now believe that videogaming as a hobby was 'cheap' in the past and now AMD/NV are pricing their gaming cards at levels that they should have been starting with say GeForce 2 Ultra? One or the other has to be true. You cannot just ignore history and assume that this year is the norm now. What's next, $1,500 flagships and $750 mid-range GPUs, and on 14nm $2,000 GTX890? It is totally different to get ripped off on 8800GTX or HD7970 as an early adopter since you kind of know that when you are buying right away. But when these prices persist for 12 months, what kind of a trend is that?
By the time HD4890 came out at $259, HD4870/GTX260 216 were already selling for $175-185, far down from their $299 MSRPs. No 40nm GPUs were on the horizon even. What's happening this generation is a very unusual development wrt GPU prices.
What can I say, looks like NV and AMD finally figured out that PC gamers are willing to pay 2x the price for gaming cards. Ironically, GPU prices are now at the highest level they've ever been despite almost no next gen games on the PC in the last 2-3 years.
HD3870X2 =
$449 (Jan 2008) -
"AMD expects the Radeon HD 3870 X2 to be priced at $449, which is actually cheaper than a pair of 3870s - making it sort of a bargain high end product."
HD4870X2 =
$549 (August 2008) -
"At $549 the X2 isn't exactly a bargain, it's slightly cheaper than two Radeon HD 4870s"
HD5870 =
$599 (November 2009) -
"In our benchmarks the 5970 is practically tied with the 5850CF, and a pair of such cards would sell for $600 at this time." <<Why is GTX690 $1000 when GTX670 SLI is $720?>>
Rip off.
HD6990 =
$699 (March 2011)
HD7990 =
$999 (August 2013) <<Why is HD7990 is $1,000 when HD7970GE CF is $820?>>
Rip off.
What incentive do AMD/NV have now to price HD8990/GTX790 below $1,000?
As I said before, people are so concerned about AMD vs. NV that they missed what just happened to the GPU industry in the last 5 years. What if Intel raised the price of 4670K from $225 to $450 and for 4770K from $325 to $650?