According to a Sapphire PR manager, AMD will be launching two Navi SKUs (possibly in July) priced at $399 and $499. These will compete against the NVIDIA GeForce RTX 2060 and 2070, respectively.
The manager noted the cards would not support ray tracing at a hardware level. They also dropped a hint as to what market segment Navi would be catering to.
Rumors about Big Navi (with 5K+ cores) have been debunked by the rep. It does seem that Navi is indeed succeeding Polaris architecture in mid-range to high-end market, while leaving enthusiast range for Radeon VII.