Most Newegg deals at the price that you mentioned are shipping from outside the US. That would imply shipping costs, import taxes, and a long waiting time.
This is a mediocre deal at best. The 6700 xt has been available for $360 from newegg for weeks. Maybe search around more before claiming something is a good deal.
This article is only three days old. I went to Amazon. They are charging $608 for this. Although I can buy a used one off a bitcoin miner for the price you told me!
Weird on black Friday you could purchase an AMD 6950 XT for around $700.00 bucks. Miners are buying up all shock supplies before they reach retail distributor warehouses. I guess I won't be buying an overpriced Nvidia or AMD GPU this year.
While the reference design arrived in mid-March 2021 with a US$479 price tag, the Asus Dual AMD Radeon RX 6700 XT OC Edition has an Amazon list price of no less than US$649.99. Fortunately for those interested, the ongoing 40% discount brings the price tag down to a more affordable US$389.99.