For one thing, Radeon HD5 series is already on the market and doing pretty well, GeForce 300 series is not.
Basically, in computer world different generations of hardware can alternate in which is better. Sometimes NVidia makes bad decisions that affect the customer poorly, sometimes it's been ATI. Sometimes it's Intel in processors that is better, sometimes AMD. Currently, Intel CPU's and AMD GPU's are the better option than AMD CPU's and NVidia GPU's respectively.
Looking at NVidia's GPU's, the 8800 GT was one of their latest cards that offered better performance to price ratio than concurrent Radeon cards, unless I'm much mistaken. The 9 series and even 200 series hasn't been up to the performances of concurrent AMD cards (your mileage may vary, this is based on some reviews I've been reading, and I can't really remember all the sources to cite here). Additionally like I said, NVidia's new Fermi or G300 series of GPU's isn't even ready yet, much less in production, so AMD cards are gaining headway on the market of latest generation GPU's and they are apparently doing rather well in reviews. NVidia is going to enter late on this generation of GPU market and it is likely going to do it with cards with lower performance/price ratio than AMD's equivalent versions. But like said, it's a cyclic thing, some generations of ATI cards are not so good (HD1000 series for example with it's infamous GLSL problems with FS2_Open comes to mind) and some generations of NVidia cards are not so good (GeForce 5000 series, GeForce FX...). Since they are already late, it also likely will mean that the first GeForce 300 cards on the market will be rushed and buggy, but that's just my conjecture on the matter. Time will tell how they will succeed. Maybe the delays will mean the next NVidia cards will be awesome and win, but I doubt it.
ATI/AMD cards are also doing better and better on Linux side as the drivers are developing quite nicely, and from a pure open source perspective, AMD cards are better choice than NVidia cards which only have the restricted, proprietary drivers available as opposed to open-source AND proprietary drivers for ATI/AMD cards.