This is not true. In gaming AMD was behind, but they were winning hard on pricing. They priced their CPUs to the point it was SO much cheaper for people to go with AMD. You'd get a CPU and MOBO and cooler for the price of a single Intel GPU. They got some market share there and AMD went from a sad joke to a serious contender. Things got great with Zen 2. The 3000 series offered a big jump up. It wasn't always the best, but now you has great pricing, tons of cores and in some games even beat Intel. With Zen 3 AMD managed to surpass Intel in basically every way, and you could upgrade the same motherboard you bought for your Zen 1 CPU! That platforms run has been legendary. The 5800x3D is still a fantastic CPU 4 years later.
Now, let's go back to the GPU market. AMD's problem is that they seem to lack a clear message and strategy. They seem happy to let Nvidia lead, by offering nothing groundbreaking like Zen 1 (many cores, chiplet based) nor seriously competing on pricing. RDNA and RDNA 2 started great, but the crypto boom made them very profitable with very little effort. It's clear that RDNA3 suffered not just fron technical issues, but from the inflated prices of the post-boom. They pulled an Nvidia by renaming cards that, by chip size, should have not being called what they were called. Those cards disappeared quickly from the radars once people realized that RT performance and FSR were way below what the greent team was offering. The 7900xtx was a really good card and would have destroyed the competition if it was called 6800xt and had launched at $700.
AMD has a shot this time, by offering a card that seems to be really close in performance to the tier ABOVE the one it's competing with, but it needs to be priced realistically. If this is not a Zen 1 moment, it might be closer to a Zen 2 one. Great hardware that doesn't claim the crown, but is priced so aggressively it doesn't make sense to spend more. But you have to ignore the shortages and the potential early high margins. You need your name to go around and people to take you seriously.
Tomorrow we'll know if AMD really cares