Exactly, the problem is with the start of the r600 cards, ati hasn't really had a true high end gpu. So that's why nvidia could disable parts of its high end and still sell them very well. Where as the 2900xtx failed to perform better than the 2900xt and that could barely compete with the g80 8800gts, so ati would have got no where selling a partially disabled r600 as a second high end and the die was too big to be a performance chip.
And since ati isn't planning on ever again creating a monster monolythic die, chances of them having the option they used to with the x1950xtx to do what nvidia will with gt 200 is very slim. But if nvidia screws up like intel did with netburst, then they well have that window open again to broaden their line up and make more profits off the same chips