People justified the former MSRP of the 7970 because it was faster and cheaper than the 3gb gtx580. Why do people keep conveniently forgetting this simple fact.
In latest games HD7970GE is 70-85% faster than HD6970. That came with a $180 price premium since nearly every 7970 could hit 1.05ghz and a lot hit 1.15-1.2ghz. If we look at how 580 performs in latest games, it's not fairing so well either.
It's somewhat funny people continue to talk about 7970's MSRP when NV wiped out $200-250 off Titan's resale value in 90 days and $300 off GTX280's resale value once GTX285 came out at $350 less than 8 months later. HD7970 was $550 but even today with a small overclock to 1.15ghz, it looks like a great deal compared to the $650 GTX780.
Look at the performance difference between 7970GE and HD6970 and then look at the performance difference between 7970GE and Titan and compare their respective price differences. NV fanboys love discounting all the games where the 7970GE smashes the 6970/580 by huge %s. As AMD works with developers to maximize GCN performance, there will be even more games where 6970/580 fall far behind the 7970. While HD7970 was priced high, in hindsight it wasn't that bad compared to the stunts NV pulled this gen with 690/780 and Titan. HD7970GE outperforms the 680 without much effort in latest games. NV now needs to release new driver updates 3-4 times to try to match a 7970GE with their competing part. GTX770 should resolve that.
If 770 4GB is $449, that would be a big joke. AMD has been providing 7970 3GB cards for $400 for 8+ months. Since HD7970GE launched June 21, 2012, barely matching that at $399 with 4GB of VRAM is bare minimum because HD7970GE itself isn't worth $400 anymore.
Not sure why people are excited about a prospect of HD7970GE's performance 1 year later at the $400 price level. Meh.