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By all indications from the limited information we have, the 5050 doesn't even edge out the 4060.
You can check TPU's review, but it's not a "solid upgrade" and therefore likely no one will recommend it vs saving up for other GPUs.
https://www.techpowerup.com/review/gigabyte-geforce-rtx-5050-gaming-oc/
Bestbuy sells a much faster 5060 for $299
https://www.bestbuy.com/site/asus-prime-nvidia-geforce-rtx-5060-8gb-gddr7-pci-express-5-0-graphics-card-black/6632193.p?cmp=RMX&refdomain=pcpartpicker.com&irclickid=3T1XkC1o1xycTlFwa3SCIzcLUksX8LyPlxDOQ80&irgwc=1&ref=198&loc=PCPartPicker&acampID=0&mpid=79301&affgroup=%22Deals%22%2C%22May%20Contract%20Change%22%2C%22Partners%20to%20Keep%22%2C%22Temp%200%25%22&intl=nosplash
Radeon 9060XT is also available at $299 and is quite faster than an entry level 5050.
5050 is not a good GPU at that price.
They too greedy to release anything below $249-299 range; and AMD is copy-catting this as well.
9060 or 9070 of any kind would be a worthy step up from 7600
Save up your money for something better in the future tbh
The days of 200 Dollar GPUs at launch are sadly cooked. Which is a shame, considering that on desktop, the integrated graphics in a Ryzen 8700G are barely GTX 1650 level. The last two graphics cards released thereabouts were the 4GB 4PCIe lanes no encoding features whatsover RX 6500 XT. And the 6GB 3050. Both based on architectures from 2020, which is pretty telling.
When Intel couldn't push the B570 down to 200, you knew it was over. Might only change again once there's a change in manufacturing and chip market. Like everybody looking for alternatives to TSMC for probably reason.