Both team green and team red thought they could charge pandemic era scalper prices this generation, which of course wont happen because ETH mining is dead
I wonder if we will ever see a proper return to form for GPU pricing. As you mentioned, most if not all other PC hardware has come down to pre-pandemic pricing but without GPUs joining them it makes budget builds impossible*
Unfortunately, I think no. Nvidia sells every AI chip wafer they can get from TSMC, so if gamers won't pay the same margins as datacenter customers Nvidia will simply stop selling to them. As such, Nvidia does not need consumers/home users anymore.
As for AMD, they just decided their pricing strategy is "whatever Nvidia does, but 10% cheaper"