>since scarcity is more a function of demand than supply

This is incorrect. Anything that is bound by something like TSMC production is only made scarce when nvidia realizes they could sell out the entire run at $1000/card or whatever.

They were supply limited for years during the crypto boom. The way you know it was a supply problem is that you couldn’t even buy new cards because they were so frequently sold out.

Nvidia cards became really valuable overnight in the same way as any other asset. You trying to scream at “rich bastard” buyers will not change the fact that there is a shortage of cards so the price is going to go up across all sellers until the supply and demand curves intersect.

This is basic econ in action and history is fraught with attempts to try to fix supply shortages by capping the price.