But AMD already offer GPUs with that amount of VRAM for extraordinary amounts of money, so there'll be no change?
And from what I hear they're selling every one they're producing, even to the level where there's a ~6 month waiting list. So even if they reduced the price, the only difference would be that the list would get longer and AMD got less money. No more devices would actually make into people's hands, being production limited.
The production limit isn't in the amount of VRAM. They could offer any of their existing consumer GPUs in versions with more VRAM with prices that add twice their own cost for the extra VRAM (but still far less than the datacenter versions) and thereby sell the same GPUs for higher margins.
This might even leave gamers with more GPUs, because right now there are people buying e.g. four 24GB consumer GPUs to run a large model, and they could instead buy one 96GB GPU and leave three more for gamers.
You're not really saying "They're not offering a product" - so much "They're not offering a product at a price I want", which is really a very different statement.
They're intentionally differentiated in the market and marked up due to the relatively higher R&D costs from targeting a much smaller market niche, with it's own demands on development. I doubt you'll just be running games on them, after all.
If that is your niche, AMD is effectively saying they don't want your custom at that price. No point selling products that lose money, after all. AMD have done it before - arguably are doing it right now as their graphics BU lost money last year if you exclude APUs and consoles - and it went badly each time (despite what some people say about "Market Share!" on some internet forums).
That strategy doesn't win though. The enterprise is going to buy the enterprise GPU anyway because they're spending someone else's money and it's a tax write off and the enterprise GPUs are faster and have ECC memory in addition to having more VRAM. But giving something for hobbyists to play with is how you build an ecosystem. So not only do they get higher margins on their consumer GPUs, they get more code written for their architecture, which lets them sell more of the expensive GPUs.
And from what I hear they're selling every one they're producing, even to the level where there's a ~6 month waiting list. So even if they reduced the price, the only difference would be that the list would get longer and AMD got less money. No more devices would actually make into people's hands, being production limited.