I will just quote CEO of NVIDIA here, so we have a proper context: "The idea that a chip is going to go down in cost over time, unfortunately, is a story of the past. First of all, a 12-inch wafer is a lot more expensive today than what it was yesterday. And it’s not a little bit more expensive, it’s a ton more expensive. Moore’s Law is dead. And the ability for Moore’s Law to deliver twice the performance at the same cost, or at the same performance half the cost every year-and-a-half, is over. It’s completely over.”.The slippery slope fallacy is just that. A fallacy, and not a proper argument. The situation now is on the outskirts of tolerable, and worth the money to me personally. Beyond that, neither of us can speak to the future, but I don't see GPUs going significantly up in price in the future for a number of reasons.
This generation was designed and built on the assumption that mining would still be a thing. That people would pay whatever because of supply and demand. I predict a lot of 4090s left on shelves come Christmas, and that the prices will drop next year. I still believe this sort of GPU pricing to be a blip — one that will normalise to more sensible pricing in future once mining is fully out of the equation (IE not present during the design phase). And I think NVIDIA will be looking more to value for money for the next generation after Ada because this generation is going to be a disaster for them. All that 30-series stock still in the wind. Literally 20 million GPUs being sold by miners on the second-hand market.
Yeah, the pricing now is hard to swallow, but when you look at the contributing factors to said pricing, you realise it's a anomaly, not a direction of travel.
Now, we have a clear image of what NVIDIA is trying to do here, I believe. The fallacy that you mentioned, is a reality from their point of view. From now on, things will get only more expensive, IF things will go their way. Us, as consumers, should make sure they won't - as it's for our own good. Otherwise, they will suck us dry over time, just because they think they can.