Except the Crypto craze is now Post-Crypto (i.e. dead and no more for GPU's at least), and the COVID supply shortages is now Post-COVID with no supply shortage. So all the conditions that caused the price spikes are gone, with only manufacturers still thinking they can squeeze the market to try and get that money that scalpers received during the supply shortages and crypto market....
Ultimately, the sellers can only decide what they want or are capable of offering, and it's the consumers that choose how to respond.
The consumers can:
- Upgrade as often as they did at the higher price
- Delay upgrades to get a similar price/perf increase even if it takes longer to get there
- Abandon PC gaming and go to consoles or even abandon gaming altogether
We've already seen that the huge demand ended with the end of the mining boom, where people could earn back (part of) the cost of the card. So this idea that the mining boom situation is permanent has already been proven to be false.
That doesn't mean that you get the same situation back as before the boom, but that is also due to the cost increases of new nodes.