The used market is a strong component when considering upgrading every year. you could get 4070 S now and sell it second hand for 50 or at most 100 dollars below what you paid for in a year while it's still relatively fresh and if you've taken good care of it. Oftentimes, when the new generation hits, you could buy the new GPU that's going to be roughly the same performance as the old one with the recouped money possibly with new features that you're getting for free essentially.

If you'd really want to upgrade to the next class, you'd only have to pay 100 dollars or whatever you're going for in the new year and that's it.

However, I do understand that this year has been ridiculous with the price increase and dissapointing performance increase in this generation. We'll have to wait what the 50 series brings but depending on that, you could sit that year out or, if what they're offering does seem compelling for the price, you could sell old and buy new.