The 16GB RTX 4080 will still launch on November 16.
Following complaints about the performance gap between the 12GB and the more potent 16GB models of the RTX 4080 graphics card, Nvidia has announced that it is "unlaunching" the 12GB model.
The most likely option is that Nvidia and its partners would rebrand all 12GB RTX 4080 cards now on the market as a specific type of RTX 4070. This most likely won't affect the card's functionality or cost in any way. However, it will more better resemble the card's branding with predecessors.