There is a Jayztwocents video saying the same thing. The current card prices won't fall by much more than they already have, and Nvidia/AMD will just have higher price tiers for the new cards. The market will quite clearly support the higher prices.
That guy is a total idiot, same one that "leaked" that RTX 4xxx series wouldn't be out for a year from his "special sources" like two days before Nvidia registered the trademarks for RTX 4xxx IE the "we're going to release this soon" paperwork. Doomsaying is boring.
Anyway the more interesting thing is timelines. Does Nvidia launch asap with the "fastest GPU ever!!"? And do they delay their other cards until their feared glut of miner cards passes so they have less pricing competition. My guess is both, even if they need to warehouse. They don't know if they can beat AMD in speed and possibly price both, but they could beat them to the punch which is still valuable.
They also like their precious margins because too many analysts are lazy and stupid; so I wouldn't be surprised if they took a hit to revenue and gave forward guidance for higher revenue and steady margins a few quarters later when they've judged the market is more opportune; after any major glut but before any slight danger of Battlemage actually appearing and being good. I mean hey there's technically a chance you'll win the lottery as well.
If there's any pricing damage from the coming improvement to price for performance it's probably that. AMD wouldn't mind Nvidia staying out of the market below the highest end either, that's still less competition, at least temporarily, meaning they'll get to charge higher prices for those seeking "new only" cards. But of course this exposes the flaw in my gamble above: Nvidia trying to wait it out only gets them so much, AMD will be waiting for them either way.
Which brings me to... there's the slightest offchance, probably as much as the chance that Battlemage launches next year and is good, that Nvidia just gives up on their predicament and floods the market. They've got their wafers ordered, and either they sell them to the only chip designer I can think of that could use even more wafers right now: AMD, or they gamble and warehouse, or they flood the market. It's not likely, mid term it would be really damaging to their profits as ramping up price later would have a severe negative impact. But I just mention it because, well, it is there.