I see absolutely no point in upgrading from my 280x at the moment. I play Battlefield 1 at high settings at 1080P with over 60FPS constant with my overclocked i5. I play GTA V on top settings with smooth gameplay, no stutters. I can max out all the competitive games I play like CS:GO and Guild Wars 2 WvW/PvP. In fact, I normally play CS:GO at 800x600 because the models are larger so it's easier to see people for competitive play. When I think I can get 3-4x the performance for around $200 then I would upgrade. If I can get a Fury for around $200 I'd probably buy that since 4GB of HBM will hold me off for at least another 3 years. I rarely play the "latest games." Other than CS:GO and Guild Wars 2 the only new games I've played since 2013 are Battlefield 4, 1, Wolfenstein New Order, Doom and GTA V. Doesn't make sense to spend more than $200 on a graphics card for a game.
If games were unplayable on old hardware, it would make sense. When I went from my Athlon XP with a 9800 Pro to my C2D 8800GT machine, I had to because I couldn't even play Bioshock, Crysis or TF2. Same thing happened when I went from C2D to i5 GTX 470. BF3, Rage, and F.E.A.R. 3 were unplayble on the core 2.
In 2016, the PC gaming market targets the lowest common denominator so more games can be sold, hence little reason to upgrade your hardware unless you want to play at Ultra on some ridiculously high resolution. I also don't see the point of going more than 1080p. The models are already too small as it is if you're a competitive gamer. You want large models so you can more easily target hitboxes. I went with a BenQ Xl2411Z 24" 1080p 144hz Freesync monitor for that reason. A close friend of mine works in the AMD GPU division up in Toronto and he said I'm probably looking at Q1 for Vega but tests look like it's going to crush current offerings, that's all he could say. I don't mind waiting 6 months since other than BF1 there is no new game coming out that I'm interested in