The entire situation is out of control.
This is really fueled by the fact that graphics cards have long been a badge that gamers wear. I mean everyone brags about what graphics card they have. A shortage, caused by various factors, has made a graphics card even more desirable to the gamer, like owning a rare sports car or something, prompting them to spend way more than they should. I mean if CPU's quadrupled in price would you buy one or wait? You would wait. People do not get hyped up about a CPU but they get hysterical about graphics cards.
So I dunno. As long as people are all hyped up and prepared to pay way over the odds, it is difficult to see where this is going. The bulk of people know this is utterly ridiculous and will not bow down to all this gouging, but long term that has to be damaging gaming. Not that the manufacturers care about the future. NVIDIA will never blame themselves for any downturn in the market. But I think that people have very clearly shown that they are prepared to pay over the top for a graphics card, even if not four times the RRP, and that is going to have a lasting effect on the market. I can't see the 4080 being launched at £600. More like £800 or even £900. In the long term that must damage gaming. Fact is that gamers are actually seeing performance per £ falling, because they are so intent on buying the latest model