1) the user above me thinks ML is just matrix multiplies, which it is far from that.
2) It's more than hardware, and one team has (huge) momentum
3) You can have better tech and not win. It actually happens relatively frequently.
There may be nothing better for the ML space than AMD being a meaningful competitor. It will give all of us better tools. It'll make AMD better and it'll even make Nvidia better, because (healthy) competition is good for everyone. But let's not be naive in thinking it is just hardware and that one example is enough. It's a good sign, but a Tesla driving on the highway in nominal conditions isn't even close to fully self driving. It's still a year away as it's been for a decade.
So I do hope this ages poorly. But I'm not holding my breath because as AMD succeeding is one of the best things for ML, hype is the absolute worst and there's way too fucking much of it. And it it takes 5+ years to age, well I wouldn't say it aged poorly.