A lot of people did wait, because of the lack of compelling reasons (price/performance) to upgrade for several generations.
That's part of the reason there's been a lot of hype for these cards. The AMD-assisted launch prices (in very small quantities) were not great, but better than anything else for quite awhile.
Now that they're pushing £650-£700, normal service has resumed. If AMD had said they'd cost that, then I personally wouldn't care now.
If everybody stopped buying, I doubt we'd get cheaper prices. They'd just give up selling cards to gamers.