Xbox Series X buying/selling prices aren't looking so hot now at websites like CEX, £575 for a boxed console, £525 for a 'discounted' Series X.
So, I think AMD and Microsoft are already meeting demand (by increasing the amount produced) with these consoles, and can think about diverting some of the production towards RDNA2 cards (in 2022), where they are being far out produced by Nvidia (if you look at Steam's hardware surveys for example).
AMD is far from a perfect equilibrium of GPU dies produced, vs the price charged for each graphics card. At the moment, they aren't producing enough cards, but they are 'making bank' on the ones that are sold:
https://i.investopedia.com/content/video/what_is_equilibrium/equilibrium.png
Ideally, what buyers and AMD would want, is an 'Equilibrium Quantity' of graphics cards produced, meaning 'when there is no shortage or surplus of a product in the market'.
Definition here:
https://www.investopedia.com/terms/e/equilibrium-quantity.asp
There's certainly no surplus right now... The theory is that supplying greater quantities of products can actually help sellers to maintain prices at the desired price. But if the demand falls too low, this no longer applies (because the price may be set above where supply and demand intersect, which is sub optimal).
I think the demand of AMD's cards has fallen, because they've set the price too high...