The price is good. The market hasn't been absurdly overpriced for two years. The 20 series Nvidia cards were also very expensive. The 2080Ti cost more than the RRP of this card.
I must have explained it to people a thousand times, but it doesn't seem to sink in. Since RT was announced die sizes have grown off the scale. That means much more cost. That is just something you are going to have to get used to and live with. It isn't going to change very much. Whilst AMD care a lot less about RT they are still making GPUs capable of actually doing it.
£699 for this IMO is excellent. Mostly because it will be absolutely ages before AMD release anything at around the same price. Firstly those $999 and $899 cards they just announced are going to be gouged. Meaning each one will cost at least $200 more, even more so in the UK. They also don't include taxes. In the UK? that is 20%. If you remove 20% from £699 you end up at around £560. Because 20% is going to the govt.
If AMD's top end cards cost that, they you can bet they will decrease by about $100 as the range goes down. Meaning by the time you get to $699? it will be a card that will perform around the same. Only you waited months and months for it.
This is always the best time to buy a GPU. But never ever the new GPU. You stay one gen behind.
And ignoring RT? the 6900XT will last you bloody years. So personally, considering it has a huge die and a ton of VRAM? and is a top end model well built with a proven good cooler? I think it's a complete bargain.