At the moment the R9 290 sells at 350-400 € in germany
Nvidia has the 770 gtx with also 4GB RAM at the same price point.
The nvidia card is cooler, yes, but has the small disadvantage of directx 11 vs 11.2 and no MANTLE ord TrueAudio-competitor.
While in the showed Benchmarks the GTX 770 is slightly ahead of the R9 290 most but not all of the time, the R9 290 is better in OpenCL stuff.
So from this point of view the newer nvidia 7xx GTX wreck the R9 290 in gaming and temperature a bit, yes.
The problem for AMD is, that they are late. The R9 290 should have been out at the same time the 770 GTX arrived or better the 680 GTX. That would have been quite some competition!
Keep it going AMD! We nee a good nvidia competitioner!