I assume people mean 3440x1440 when they say 1440 as it’s way more common than 2560x1440.
Your card is comparable to a 5070, which is basically the same price as yours. There’s no doubt the 5080 and 5090 are disappointing in their performance compared to these mid-high cards, but your card can’t compete with them and nvidia offer a comparable card at the same price point as AMDs best card.
Also the AMD card uses more power than the nvidia equivalent (9700xt vs 5070).
Sorry I thought I read you had the 9070 XT, which is better than the 9070 that you have. The 9070 and the 5070 are the same price, and are neck and neck in performance , so the nvidia card isn't "insanely overpriced" compared to AMDs offerings, is it? The 9070 isn't a "fraction of the price" of the equivalent nvidia card, it's the same price.
As you said, there are 40 series cards that are better than the 50 series cards apart from probably the 5090, and the prices on those is cheaper than the 9070.