Yes, both AMD & Nvidia have responsibilities to their share holders & board partners. So they can't price too low.I agree with AdoredTV in that AMD gave up. In order for AMD to compete against Nvidia they would need to spend a lot of money. Money that would ultimately be a waste because Nvidia always has a faster card ready to beat AMD. If AMD beats Nvidia in pricing then it's a race to the bottom, which doesn't benefit either company. If AMD were to price their RX 7800 for $600, nobody would buy it, but price it down to $400 and Nvidia would drop their prices to match and thus AMD wouldn't get anymore sales. This is why I think AMD has an unwritten agreement with Nvidia to basically keep their prices relatively close to Nvidia's in order to drive GPU prices higher. Kinda like price fixing.
Intel's dgpu business is still at risk if they cannot turn profitable
Radeon would persist in some form or the other because it is in playstation & xbox.
From consumer point of view, they need to vote with their wallets (eg: buy a used 3060 12gb/3060ti/6700xt or discounted 6800xt or a series S/PS5 or a 7900xt+/4080+)