AMD's strategy isn't hard to comprehend...

I don’t know why people on this sub struggle to comprehend this. Nvidia is releasing two high-end GPUs that cost over $1,000 this month. AMD IS NOT COMPETING IN THIS PERFORMANCE TIER. Releasing a much lower-performing product at a lower price isn't going to make a difference. Most people who buy a 5080/5090 in the first month of release are Nvidia FOMO buyers. Very few people need to rush out and buy a $1k or $2k GPU. The people who want an Nvidia card will wait and buy Nvidia. An AMD option was never going to make a difference to those people. You want to know why? Because they were already planning to wait, so waiting for a restock won’t change anything.

More than likely, AMD wants to wait until FSR4 is ready AND all the 5000 series cards are out so they can compare performance and adjust prices if needed. It's common sense to wait until the competition releases a comparable product (like the 5070 Ti or 5070), then stir up talk afterward. Especially since Nvidia already announced the 5070ti/5070 way in advance of release. AMD can just wait until those cards are close to being released, then officially announce their new cards and flood the internet with AMD talk closer to the release.

Also, FSR4 isn’t ready yet, while DLSS4 is out this month with the 90/80 release. It makes no sense to announce new cards, release them, and not have the best version of FSR ready—especially after all the internet has been talking about DLSS4 improvements. Why would AMD release a product when a key feature isn’t ready? Especially when Nvidia has the mindshare regarding DLSS4 improvements right now?

TL;DR - AMD is waiting until comparable cards are out (the 70 series) and FSR4 is ready so they can discuss and compare performance, adjust pricing, and make their move closer to Nvidia's 70 series release.