I honestly do not know why they would be releasing this now, considering Polaris isn't really that far away and you are probably going to get the same performance, for far cheaper and use less power.
Granted it will be good for ITX builds but why not just come out with a Dual Polaris cored card instead.
As for textures etc, I think it was Joker Productions that did a video regarding Rise Of The Tomb Raider, and how you could turn down the textures to the minimum and it would drop the Vram usage by around 50% iirc and although, it did look different but not a massive difference, and it didn't seem to affect the performance.
Other games though such as Black Op's 3 if you turn down the settings to the lowest at 4K, iirc it still will use all the vram available just for the sake of it and I have noticed that in other games to which to me just seems stupid.