There is no question that power is still a problem for AMD. It has to run the 5700 XT so high to get the performance they want, which means high voltage, power draw, despite it being 7nm and a revised architecture, it is still not as efficient as NVIDIA has been able to do with its architectural designs. AMD needs to keep pushing forward in that area, the manufacturing process alone cannot save it, it's a combo of architecture design and process. This is RDNA 1.0 which has been reported to still share some things with the GCN architecture, I think the next version of RDNA (2.0?) will be improved, along with process refinements.
What this XFX card does improveme on though is the thermal situation and noise levels. The reference card is loud and hot, and this custom card improves on that big time.