AMD can deliver 8C/16T in 65 W but their GPUs need 50%+ more power than nvidia's for the same performance (up to 100% more at the 1080 lower end). You're saying I'm not right and they don't have a problem?
It's a repeat of Vega, where AMD finally managed to reach Maxwell-level perf/watt... on 14nm, competing against 28nm NVIDIA chips. Once again they are years late and too expensive to boot.
They've managed to close the gap to Turing a little bit (because NVIDIA is still on a 16+ node rather than 7nm) but it's going to be a bloodbath when NVIDIA ports down to 7nm next year.
Price is the great equalizer, but once again AMD is choosing to price head-to-head with NVIDIA. Racing onto 7nm was not a cheap move for them.