RDNA is the exact opposite. Navi 10 was 25% smaller than Vega 20 while delivering similar gaming performance (HBM still gave the older card an advantage.) That’s a pretty impressive increase in PPA and efficiency due to the new architecture.
The PPA improvement of RDNA1 was actually quite a disappointment.
VII was only 330mm², even though it had an overkill (for gaming) 4096bit HBM2 interface, half-rate FP64 (which made CUs bigger than they needed to be for a gaming card) and 64 CUs even though the Vega 56 and the Fury cards before that had clearly shown that GCN scales poorly from 56 to 64 CUs (and mediocre from 48 to 56, there were some tests for that, too).
Basically, if you took Vega20, removed half-rate FP64 support, cut the HBM interface in half (but kept L2 the same size and went with the fastest available HBM), reduced the CUs to 56 or maybe even 48 like adroc suggested and clocked the thing just ~150-200 Mhz higher, you'd end up with a chip of similar size and similar gaming perf as N10, at least in the games back then.
N10 should've had 48 CUs and twice as much L2, then it would've been better (the 40 CUs only made up 81mm² of the chip, so that would've only increased N10's size by like 10%).
But the way they configured N10, it's PPA was so-so for a new uArch using N7, not much better than a gaming-focused Vega2 config would've been.