Well yeah, the comment still applies. GeForce is made for gaming, so the bill of materials goes to what improves gaming performance.

It should still do deep learning activities much faster than the 1080 though, doesn't it?

Not relevant if your model doesn't fit in GPU memory.

That's fair, but the 3070 isn't being marketed as a deep learning machine primarily. I don't know why it's the fault of a midrange gaming card that it doesn't fit a deep learning requirement. The 3090, which is much more expensive mind you, is the one you'd want with 24 GB of VRAM.