It's not just price, at least for me.
It's also the fact that FSR is worse than DLSS, that AMF is worse than nvenc, that their raytracing performance is not even close, and that AFMF isn't as good as DLSS frame generation, and that the drivers aren't as stable, and so on and so on and so on....
The whole product is just... not strictly equivalent, and the price difference isn't the reason that I don't really look too hard at AMD cards.
If AMD gets to equivalency with FSR, AMF, and AFMF that'd make their cards FAR more compelling than a $100 lower price tag would.