AMD has, as far as I understand, been outcompeting Nvidia on value for a good while.

And yet their market share doesn’t increase. Because Nvidia holds a stranglehold on both the software (CUDA, RTX support, frame gen, etc) AND sheer brand recognition- gamers always complain about Nvidia and want better AMD cards, but continue to line up in droves to buy Nvidia cards no matter what.

Nvidia knows they can do whatever the fuck they want right now.