So apples to apples it can not beat the 2080Ti in RTX. Port Royal is about as linear as it is ever going to get, so it should beat it if it were better.
The big problem with this card will be regular performance and, if the 3080 is anything to go by, lower clock speeds than the 20 series. If the 3070 is already boosting to the limit that doesn't bode well for it.
Still, if you can even get one (you won't be able to) then it's at least reasonable price per perf. Good, even. That said if it's rocking horse crap all of that becomes meaningless.