I know what you mean. However, signs are pointing to a new release soon.
What I think will happen is, the new XX80 GPU and XX70 GPUs will only offer marginal increases in performance in DX11 benchmarks, but at a lower TDP in chips that are easier and cheaper for Nvidia to produce. The XX80 could be 5% faster than a Titan Xp and people will still buy it because it'll be a much smaller GPU (and thus easier to cool and cheaper to buy), and it also might have higher DX12 performance—say, 10-15% gain over Titan Xp versus 5% in DX11—which will add sugar to the cake and entice people to upgrade. They could sell the XX70 for £500 and the XX80 £650 and people would buy it because it's faster than a 1080Ti, draws less power, is slightly cheaper, and is new and 'Nvidia-shiny' (which is whole other kind of shiny). That's what Intel were doing, as Alien said, since Bulldozer came along and failed. GPU and CPUs are not the same, but Vega is, right now, the Bulldozer of Radeon. It has room to mature, but so did Bulldozer and by and large didn't.