As a reference, between 2008 and 2011 when ATI/AMD had the biggest technological lead over Nvidia's disaster architectures, even then when AMD was at near 50% market share it merely posted 19M of profits across 3 financial years! In the same time frame, despite terrible performances, Fermi architecture already going into the 400w consumption range, even then Nvidia posted billions of profits across the same time frame.
AMD has simply stopped competing with Nvidia on prices, it's nonsense to them.
Nowadays both Nvidia and AMD sell more GPUs to datacenters and super computers, where net margins are also twice as high than they do to gamers.
Essentially both AMD and Nvidia are abandoning the gaming aspect of their hardware, stopped competing price-wise, instead they prefer both to sit on higher margins in the gaming market and focus on GPGPU aspect for business, research, automotive, AI, etc, etc, where the real money and growth is.
The fact that this hardware is also able to crunch rendering calculations is more and more of a side effect.