>I suspect if it wasn't for that we'd have vastly cheaper and vastly faster gaming GPUs

This feels very out of touch since AMD's latest GPU series is specialized in gaming only, to the point where they sell variants with 8GB, which is becoming a bit tight if you want to play modern games.

Yes but AMD also has an enterprise line of AI cards to protect. And regardless, if NVidia wasn't also making bank selling AI GPUs then we'd have seen them add more performance on gaming, which would have forced AMD to, etc.