Many people say that the 2080Ti is too expensive. It is, however, it offers enormous performance. If AMD can match that? I can promise you no one will need more than that for a very long time. They don't need to try and beat Nvidia. All that will happen is what has already happened. They will make big old tank GPUs with no overclocking headroom left in the tank and still lose looking like idiots at the same time.
Not quite. We will probably see the next one or two generations of GPUs getting obsolete faster. The reason that 1080 Ti was and still is the only card you need are the consoles. They were released ages ago. 99% of the games are made to run on consoles, and 1080 Ti just mauled through any console port.
2080 Ti became more relevant because of the 1440p 144Hz monitors more affordable in the last couple of years and high refresh gaming became mainstream. Somewhat 4K, but not that much. 1080 Ti is still fine for 1080p.
With consoles having hardware refresh and RT becoming a thing there will be bigger leaps between hardware generations. Also, consoles are using NVME storage. That will remove a massive bottleneck and allow games to stress the GPU harder.
AMD did unlock the CPU side of games. Now more and more games are requiring 6 or more cores.
Constipation that was created by Intel releasing the same processor for 5 years and hopeless console hardware is unclogged now and there will be a massive storm of better game graphics as the software catches up with the new hardware that was unleashed.
It will be the same as it was with rendering applications. We saw 6950X and then 10980X becoming a joke in 2 years. The same will happen with the next few generations of GPUs.
Edit: What AMD needs to do is get back into streaming support. Now there is nothing, not even the people that work on streaming support. Streaming is very popular and every streamer in the world is using Nvidia GPU. Most of the people that watch those streamers are buying systems based on their streamer's PCs.
Also, they need to up the support for professional applications. Nvidia is much, much better than anything AMD has for the creator's space (video, animation, 3D, CAD, Deep learning, take your pick).
It is a really steep mountain that they need to climb in a blizzard with no O2 or climbing gear.