This is a sane normal person outlook.I think you are absolutely right. The days of the GPU being a frequent upgrade are over if NVIDIA continue these prices. I was waiting to upgrade to a 4080, but it really looks like it is not going to happen. I have always bought one below the top tier, but they have out-priced me now. Spending £1200 for a 4080 is insanity imo. And certainly not something I am comfortable doing every few years. I do still need a more powerful card than the one I have. I am interested in the 7900xtx because by all accounts it's going to be cheaper than the 4080 and beat the pants off it. Honestly, though, this may be my last upgrade for a very long time.
Any GPU I'm buying I won't be replacing for it's life, probably 8 years same as my PC cycle. I don't get the upgrade yearly craze to get 15% fps in a game, we must have a lot of esports champions on here.