Not sure what will happen, but I would like the ETH price to drop. Because I want to buy some? Because I am a Bitcoin fanboy? No. Because current ETH mining profit is causing a lack of graphic cards. This is harmful to users that just want them to play games, and increases ecological footprint of cryptocurrencies.
I hope ETH start migrating to Proof of Stake ASAP.
Yeah I cannot wait to see the transition from Proof of Work to something more efficient, Proof of Stake.
Actually more purchases of graphics cards will mean cheaper graphics cards for gamers due to economy of scale.
In short term demand is surpassing production capacity, I do not know how much time takes to build new chip factories or add additional production lines, maybe 1 year? But you are right, eventually offer will rise or change to Proof of Stake will reduce the demand.