I think it's fine. This isn't even the top card. Top card should be at least as good as a 3070 and people are all upset LOL.
From what I have seen there are things that these cards will destroy AMD on and easily compete with Nvidia. Not gaming, but something to do with encoding? IDK, can't really remember.
This is just the beginning. The cards touted for next year are different beasts entirely.
BTW dude I have absolutely no idea where you got the price from, as I haven't seen them mention that anywhere. It may be in the video? god knows.
The card already released is faster than the 6400 and costs less. So this should be pretty darn affordable.
Edit 2. OK yeah, apparently it is going to be $329 from rumours. For 17% more performance and you are complaining?