Well that’s one interpretation.

Another way to think about it is a good that we once bought for private use where it sat around underutilized the majority of the time is instead being allocated in data centers where we rent slices of it, allowing RAM to be more efficiently allocated and used.

Yes it sucks that demand for RAM has led to scarcity and higher prices but those resources moving to data centers is a natural consequence of a shareable resource becoming expensive. It doesn’t have to be a conspiracy.