We've known about 7nm for Vega for quite some time now.
https://www.anandtech.com/show/12233/amd-tech-day-at-ces-2018-roadmap-revealed-with-ryzen-apus-zen-on-12nm-vega-on-7nm/9
This was nearly a whole year ago.

Jensen seemed salty to me. By dissing the performance of the Radeon VII he indirectly crapped on his RTX product line. Pointing to Ray Tracing and DLSS would matter if A)Features had wide support B)Ray Tracing didn't tank performance. Those features "may" be the future but by the time they are widely adopted the current RTX lineup will be ill equipped to handle the games anyway.

Sort of reminds me of when AMD when full bore into multiple core CPUs while Intel focused more on single thread performance. AMD gambled that multiple cores would be the future. The gamble didn't pay off for them. By the time multi core CPUs matter, their old CPUs weren't up to the task. That's what I see for the RTX lineup.

That doesn't mean AMD doens't need to step their game up. They absolutely do. Nvidia has moved up the pricing for GPUs with modest performance improvements. If AMD doesn't step it up, maybe Intel's upcoming GPUs will bring us more competition.

Meanwhile anyone who bought an rtx 2080 wasted their money for the price of it.

Even worse, the rtx 2060.

Are you talking about the Bulldozer line? That wasn't really a gamble... AMD projected that Multi-threaded Integer performance would be the important factor for the markets it wanted to chase in the future. (Servers and Data centers.)
Gotta' keep in mind that Opteron was killing it for a long time... So AMD wanted to keep increasing their marketshare.

In that... Bulldozer was actually not a bad design, but when it came to consumer workloads which typically favored floating point math, the architecture fell down.

Obviously, AMD stuffed up... It was their Netburst moment... And Zen is their Core moment that turns it all around.

AMD would have been better off taking their Stars architecture, bringing it to a smaller node and increase core counts and clockrates... I had a Phenom 2 x6 1090T on release day... And once you overclock those chips to 4ghz with a 3ghz NB clock... And fed it with some really fast, low-latency DRAM... FX couldn't touch it.

Then I wen't LGA2011 and left AMD behind.

If AMD, nVidia or Intel do not have a product with compelling price/performance/power consumption/features... Don't reward them with your wallet, same thing goes for any tech product, even consoles.
At the moment, the only reason I would ever recommend Polaris is because of price/performance, nVidia's Turing isn't exactly cheap to purchase.

Vega 7 is just laughable on all fronts unless you have workload that can utilize 16GB of DRAM... AMD needs to undercut nVidia on price if it's not going to have feature parity.

We can go farther back to 2016.
https://wccftech.com/amd-vega-gpu-navi-gpu-hbm2-2017-2018/

Oh, you are mistaken, I never had any expectations. I'm just trying to say that calling an underwhelming product underwhelming isn't salty. Just reflecting the expectations and hopes of AMD fans everywhere to compete at the high end again.

Meh, didn't sound like it the first time around ... 

I don't think AMD will ever put out a big die anytime soon to compete at the highest end even if Nvidia with Turing is arguably at it's weakest point in time ... 

this next step in AMD roadmap should be the final evolution of current architecture, so it's quite natural that more radical innovations will start appearing in the successive step, the first versions of next gen AMD graphics architecture. This makes quite likely too that next gen Sony and MS console won't appear earlier than in late 2020, as using this tech they'd look immediately old as soon as next gen is launched.

2020 is most likely date, though, X360 had ATI's custom GPU that had unified shaders way before their desktop cards with same feature hit the shelves. So, something like this may happen again, AMD focusing on delivering next-gen GPUs for consoles, and only later releasing desktop cards with those next-gen featues.

I know it well, and yeah, considering that they will not put a last-month release GPU in Xboxes, because console market is so much bigger in scale, that any mistake in ur product, what ur consumer ( MS ) will buy, will simple be an armageddon. U can fuck up one thing in one GPU card series, refund it or smt, not in any serious console.

The collaboration is not the only hint we got on the topic,thoug. Forbes' leak points simply that MS will not use Navi technology, also it points the Vega will be a disappointment because resources were moved to Navi, and kinda it was proven true. So far, the leak is accurate.

IMO the best marketing strategy for MS ( and MS care a hell a lot about PR after Spencer took the chair ) is to hint it until it is "hot and good " thing. This is a totally different situation, if, it was announced at one time, Vega here, Navi here. MS cant stand Sony mano a mano in console space, the ship has long sailled.

No, I dont think Vega die shrink changed overnight, because I kinda know a thing or two about tech ( but you are right, I always look at it more bussines -wise than power-wise), and I know something about signing a contracts/future contracts, and I am sure as hell, that AMD simply came to common sense long time ago, that if they will not offer 7nm tech for next Xbox, MS will go to other supplier, thats how buss works, and they changed strategy just for it, and the both sides makes an agreement long time ago, what was now announced, with all the lights and sounds pointing what's gonna be.