Production of refreshed RyZen and Vega has been announced by AMD, 1st quarter production 2018 is the jest. RTG may have enough Vega 10's chips currently to carry through to then. Anyways this maybe a whole new AMD we are now seeing - not waiting on the competition to beat their pants off. A Ryzen refresh in a year is coming, Vega looks like it will be too but less than a year. So the news looks to be more good than bad.
Even with the refresh they will get killed by current nV cards, 12nm process they are using is LPP, low power, and is only supposed to give 10% addition performance at the same wattage. Pretty much what AMD stated about it. Its more about cost savings than anything else just like 12nm from TSMC, GF 12nm also employs less layers.