Yes, Vega is a compute powerhouse,
...CDNA descends from Vega, but as I understand it, has all display output and geometry removed entirely. - I may very well be mistaken though
There is a reduction.
"... Just how different these architectures are (and over time, will be) remains to be seen. AMD has briefly mentioned that CDNA is going to have less “graphics-bits”, so it’s likely that these parts will have limited (if any) graphics capabilities, making them quite dissimilar from RDNA GPUs in some ways. ..."
www.anandtech.com
I can't find direct quotes from AMD or a transcript to get direct feel for how they are bounding "less". But the "have less" other folks have presented as ...
"... Data centers and HPCs using Radeon Instinct accelerators have no use for the GPU's actual graphics rendering capabilities. And so, at a silicon level, AMD is removing the raster graphics hardware, the display and multimedia engines, and other associated components that otherwise take up significant amounts of die area. In their place, AMD is adding fixed-function tensor compute hardware, similar to the tensor cores on certain NVIDIA GPUs. ... "
AMD at its 2020 Financial Analyst Day event unveiled its upcoming CDNA GPU-based compute accelerator architecture. CDNA will complement the company's graphics-oriented RDNA architecture. While RDNA powers the company's Radeon Pro and Radeon RX client- and enterprise graphics products, CDNA will...
www.techpowerup.com
That isn't really a "have less" as much as chuck the whole raster system down through the display managers out the window. If it is a total swap on transistor budget to tensor cores then CDNA will have problems in the workstation market (and with Apple as they want some GUI for someone to sit in front of. ).
If AMD is chasing eye-popping high tensor computational ops per second then "have less" may be something AMD was doing not to show all their cards ( or let Nvidia know than know how much they knew what Ampere intended to do; same thing 'bet the farm' on tensor subsystem. )
In trying to chase down some Vega die layouts perhaps the multimedia stuff is soaking up more space than I remember it did.
and it could be as you say just the physical layer that Apple would replace with their Thunderbolt port anyway; Guess time will tell
If the raster+display got pruned down to just 1-2 DP streams I can see Apple passing on that that too. At that point perhaps barely handling one XDR display. I thought it would get capped around 4, but perhaps AMD did 'bet the farm' with zero.