Yup, traditionally their sweet spot cards were about $250-400 ($400 would get you just a tier below flagship), and you would be likely to replace one every 2 generations, so every 4 years, although one could easily last you for 6 if your requirements weren't high. This is the largest price hike they've ever done, and on top of that, apparently, they also downgraded their series down one notch for the first time (previously their X70 series would always be exactly on par with the previous gen Ti series, now it is apparently on par with the previous gen X80 series, with the new X80 series being on par with last gen Ti). So to get the same performance jump that you did last gen for 400$ with a GTX1070 (which was actually faster than a 980Ti), you'd need to spend over $700 now on the RTX2080 (which is said to be about as fast as a 1080Ti), with the RTX2080Ti being the same tier as the GTX1080 was during the previous gen. Basically, price gouging.
Part of this is AMD not having any competitive cards in the high-end, part of it was the price craze in general due to insane demand over the last two years or so, which increased the retail prices, that Nvidia couldn't fully profit from.
What's additionally annoying is that the whole launch presentation was focused around Ray Tracing, without even mentioning the real-life performance of those cards, not a single game benchmark. And then they ask people to pre-order. That's really shady, and a first even for Nvidia.