NotAnAppleFan suspects price-fixing.
I don't think there is intentional price fixing between nvidia and AMD in the true sense of the word, but nvidia definitely priced 40 series to sell the 30. AMD responded in kind because why wouldn't they? I thought there would be a flood of videocards just like in 18, but I was wrong. Nvidia played this "beautifully" by hiking up 40 series prices to the tilt.
Sad situation for pc enthusiasts all around. I used to upgrade more often at the sweet $300 price point as that used to be the midrange sweet spot that had the highest perf/$ metric and was still fast enough to play newest games if you toned down the settings a bit. At that point it was more like a hobby, I'd get a shiny new toy to play with every so often just for the fun of it, I don't do that anymore, as of late it's become a strategic decision of how reasonable the pricing is based on mm^2 (4080/4070ti is downright horrid) and do I need to upgrade or does my current card handle everything I play? I got 3070fe at the height of the pandemic 2 years ago because that's the only thing I could get and because I could offset the cost by mining, 8GB is definitely a problem, but 40 series/N3x value proposition is total crap so I'll try to hold out till nvidia/amd brings something reasonable to the market, or till my 3070 can't play what I want.
The nvidia 20 series was also a stinker, but 30 was alright, relatively speaking (ot at least it would have been if not for the mining boom). Hopefully history repeats itself and 50 series/N4x will be more reasonably priced with mining solidly out of the picture.