Can AMD release a true RTX 5090 competitor?

For the last few years, AMD's flagship every generation has been coming up short when compared to Nvidia's flagship. It happened with the RX 6900 XT and RX 7900 XTX, and this time, AMD decided it wouldn't play king of the hill with Nvidia, confirming that it was limiting itself to the mid-range segment. The RTX 5090 took its spot at the top of the charts, as expected, and AMD delivered perhaps the most exciting mid-range card in a long time: the RX 9070 XT.