Indeed. HD5870 is unable to beat last generation's Crossfire, or even the downclocked version of it (4870x2).

GTX 295 is 10% faster than HD5870 anyway. If Fermi can meaningfully beat GTX 295, it'll mean that there'll be a healthy difference between Fermi and HD5870 (more than the difference between HD5870 and HD5850) and that makes it good. Of course, what'll make it a success or a failure is the price point.