if you dig into that Hardware Unboxed video, the gains on both sides were pretty even. I'd say it's more fair that the 9070 XT can compete at 1440 with the 5070 Ti, not surpass it. That's still pretty good. Too bad AMD opted out of the high end this time. I think they missed the boat there.
This was most definitely the right time that AMD could have made inroads in the high-end, with all the NV blunders in the RTX 50 series generation. In much the same way the CPU division hit it at the right time, with stagnation from Intel, this would have been the right time for AMD on the GPU side, if only they had done it.