They still sell a lot of cards. Look from q1 2019 and to q4 2021 (to not take the height of previous crypto buble and to account for about 2 years/gen), there are about 129.24 million cards. Even with 10% market share overall and those are almost 13million cards. Even if they've spend $1 billion on R&D (as that seems to be the new theme in justifying high prices), that's like $76 / card (WITHOUT including professional cards where margins are even higher). Peanuts. Image how many $ nvidia makes out of that 115 +/- million units.
They keep it as I suspect Microsoft and Sony also pays for R&D, plus can also offer custom solutions to customers like the Steam Deck.
From around 2013 until now
inflation was around 27.93%.
$500 in 2013 are now around $640.
Back then AMD launch the r290 (AMD 2nd most powerful card) for $399. That would be $510 now, not $899.
$648 was the gtx 780 3gb version back in 2013. 3080 was $699 in 2020 ($50 jump in 7 years!). 4080 16gb (actually a 4070 class card) is $1199 ($500 or 72% increase in 2 years! - more if you consider is truly a lower tier card
).
Inflation has little to do with it as you can compensate a lot through technology and innovation.
Not the least, I agree, people wages haven't increase in line with this crazy world pricing. Will be interesting to see how many will spew crazy money on overpriced hardware.