Exactly thats why I don't believe that R9 390X will be inefficient, and slower than GTX980.
AMD is not THAT stupid.
You are forgetting price and timing context of this generation and soon to be EOL 28nm node. We know that 970/980 cards overclock very well and NV has incredible profit margins approaching Intel levels. Let's say AMD were to spend tens of millions of dollars designing a new mid-range chip on 28nm from scratch
only for this stop-gap generation. All NV would need to do is bump the clocks on 970/980 another 150mhz and/or, drop prices $50-100 and it's game over. AMD would have risked all that $ but might not even have won. At least with Fiji chips, AMD can reuse them later with a 14nm/16nm shrink as mid-range next gen parts. HBM1 controller and memory could be easily made into HBM2.
How would 28nm GDDR5 parts look next generation against Pascal? They would get destroyed. With AMD's finances, it's not unreasonable that they made a conscious decision to invest into future tech/SKUs - which means Fiji and just doing a mild refresh on Hawaii using a more mature 28nm node at GloFo / maybe using a High Density stack, adding HDMI 2.0 and some other minor differences. We've seen NV do a rebrand before with GTX680 --> 770 and that 770 card sold well due to 10% higher speed and a lower price than the original 680.
I am personally of the view that AMD will still have to compete on price/performance with everything other than Fiji because NV's 2x perf/watt lead cannot be overcome this generation without a new architecture, lower node or HBM1. I would be shocked if AMD was able to drop 100W of power usage in 1.05Ghz 290X = 390X Hawaii XT GDDR5 parts.
It could make more sense to just leave 390/390X cards at $249-399 levels but
instead use Fiji Pro (say 3300-3500 shader HBM1 variants) in the $449-599 space.
I mean let's think about it for a second, what's easier and more cost effective for AMD :
Option 1: Spend tens of millions of dollars to create a GDDR5 only brand new chip with 2816 shaders that competes with a GTX980
Option 2: Make a lower Fiji SKU from non-fully yielding Fiji XT 4096 shader parts.
Since AMD was going to design and manufacture the large die size Fiji XT with HBM1 no matter what, Option 2 makes a lot more sense than Option 1. It
guarantees a part that's faster performing than a 290X and it solves AMD's issues of what to do with all those die (surely it's better to sell them as lower tier SKUs than throwing them out!!!).
Another thing is the existinance of Fiji Pro has been almost universally ignored on these forums but it would be a shocker if AMD has a $399 2816 shader GDDR5 GPU and an $850 4096 shader HBM1 part*** and nothing in between.
Everyone is trying to somehow fit 390X Hawaii as a competitor to a 980 while fully ignoring the other possibility here that AMD is going to bring out a cut-down Fiji to stomp all over the 980 in the $500 price range.
***Disclaimer: unless of course Fiji XT is nowhere near a 4096 shader product but is itself just a 3300-3500 shader part.
TL; DR:
I think this forum is making a bold assumption discussing 390X (Hawaii XT with higher clocks and GDDR5) as a $550 980 competitor and $850 Radeon Fiji Fury as a Titan X competitor, but is completely discounting any real possibility of a cut-down Fiji Pro HBM part(s) as 980/980Ti competitors. Historically speaking, AMD/ATI
always had a cut-down version of their flagship card. For that reason so many people ignoring the possibility of cut-down Fiji Pro SKU is an eye opener. :hmm:
The branding can be as simple as AMD Radeon Fury Pro and AMD Radeon Fury XT/MAXX. After all, ATI had Rage Fury PRO and the Rage Maxx. There is no reason to suggest that AMD cannot use the Fury branding for more than 1 Fiji product.
http://www.tomshardware.com/reviews/ati-rage-fury-pro-review,133-2.html