Looks like we are getting the 5700 XT for $449 and the 5700 for $379.
Too me, the result is a little underwhelming, and more of the graphics market stagnation we have seen over the past few years. The AMD 5700 XT is essentially on parity with the current NVidia RTX 2070, for a $50 reduced MSRP, but higher board power (225W vs 185W).
NVidia started that trend nearly 9 months ago with the launch of Turing. Turing, ultimately, performed exactly the same in current titles for the dollar as the now 3 year old GTX series. The only thing additional for the money was the inclusion of RTX cores which still have extremely limited use.
AMD now, has followed that trend, dropping the 5700 XT in at $449. Vega 64 when it launched 22 months ago, was $499 MSRP. So in 2019, AMD is offering you about 14% more performance for $50 less, with the added benefit of a 50W reduction in TBP. Not exactly earth shattering.
But Navi, clearly isn't the high end RDNA part. The unified shaders, texture mapping units, and compute units are all about 60% of the previous Vega cards. In fact, the standard 5700 has virtually identical shader, TMU, and CU numbers as the Polaris based RX 480/580/590. But AMD has chosen to price them at Vega levels as opposed to Polaris levels. That means the Vega price point will now be occupied by Navi, and when AMD releases a Navi variant with Vega levels of shaders/TMUs/CUs it will be priced likely at Radeon VII levels or beyond. Meanwhile, the Polaris price point will be occupied by...well Polaris I guess. It is possible that AMD may release cut down Navi variants at lower prices, but they will likely perform similar to the Polaris parts.
Form AMDs perspective, a Navi GPU is a much smaller piece of silicon than a Vega GPU, the actual die size is almost 50% of the Vega die size (251 mm^2 vs 486 mm^2). They can get twice the number of GPUs per wafer than Vega, and by pairing it with GDDR6 vs HBM2 they save some money in that regard too. That small GPU performs slightly faster than Vega, so by pricing it at those levels which is still competitive with NVidia, and eliminating Vega, AMD makes vastly more money on every GPU it sells. That will also be true as AMD moves Navi down the stack. But for us end users, it seems like we have identical performance for the money, but for AMD each sale is vastly more profitable.