Radeon Vega graphics are not new, they came at the tail end of GCN in 2018, although the Vega 8 IGP in the 7730U processor does have increased clock speeds compared to earlier versions. For an APU with integrated graphics the performance is decent. It still outperforms most Intel APU chips and is much cheaper than a gaming laptop with a discrete graphics solution.
The new 8000 series mobile processors feature RDNA 3 graphics and should offer much better performance.
Ryzen R7 5700X | B550 Gaming X | 2x16GB G.Skill 3600 | Radeon RX 7900XT
Ryzen R7 5700G | B550 Gaming X | 2x8GB G.Skill 4000 | Radeon Vega 8 IGP
Ryzen R5 5600 | B550 Gaming Edge | 4x8GB G.Skill 3600 | Radeon RX 6800XT