LOL...He's been getting a lot of flack on here!
All things being equal, his guess is as good as mine, yours or anyone else's, really. Though, in my view, I do think the odds favor waiting and prices will have to come down, if only because of reasons based purely on Econ 101 stuff.
Here's how I think of it. If one needs a video card (I'm not a huge fan of letting parts sit idle, unless we're talking stuff like fans, cases, power supplies or stuff like that), one needs a video card period. It's just a matter of choosing one and deciding what level of potential loss to assured obsolescence is acceptable. In my case, the 3080 12 Gb plays everything I want at 4K maxed out video configs; the 4000 series will surely be an improvement, but I can "accept" this obsolescence for the next 2 or 3 years. The price for having it now is about $300 potentially overpaid compared to if I waited several more months, which is very likely to unfold, in my view.
So, $300 or wait to have those other parts I picked up on the Amazon Prime driven sales day just sit there? While only speaking for myself and I appreciate money is always an important consideration, I've wasted $300 on far more frivolous stuff than overpaying for a GPU so that I can 1) enjoy building my PC, 2) play games on max 4K now, and 3) end this ridiculous hunt (there's actually waiting list?!) for a PS5.
In my case, turning the page to the next chapter of actually playing games for $300 is money well spent, and no regrets even knowing I've very likely overpaid for my GPU, not to mention all of the other parts too. And, that's ok because it's how it has always been.