That is essentially the launch price of the 1070Ti, so prices are about normal again.
Depends on what your goal is. GTX1070Ti is likely to be on par, or close to it, to something like an 1170. Typical release would be the 80 series card, then the 70 a month or so later. When AIB partner cards hit the market is usually later than the initial Founder's Edition release.
If you think you can deal with the RX480 through the end of the year you can try waiting.
I suspect the GTX1180 is going to be in the $700 range at launch, if not more, the GTX1170 might be surprisingly expensive. I suspect over $400. The 1070 launched at $379, hit a low point of around $330, but is currently sitting at $400.
My reasoning is that they are going to be using GDDR6 which should be in relatively short supply. DRAM prices have been high for a while. On top of the fact that AIB partners are returning Pascal GPUs. Meaning that manufacturing of 1000 series cards is diminishing, but that there are a lot of cards already out there. Since they will be the logical choices for the masses, it makes sense to keep them around their current prices, or a least MSRP, and release the new cards to the enthusiasts at a higher price. Certainly proven to work with the FE launches, which are typically $100 more than the AIB MSRP. (FE 1180 might be $800, as the 1080 was $700 at launch)