1440p @ 144fps is still legitimately difficult to achieve with high quality settings in some games. There are perfectly good reasons not to be running 4k.
It'll only be getting harder as games actually built for the new console gen show up. Looks like 60fps average is max you can get @4k out of Spiderman at max settings, and that's mostly a last gen game with RT tacked on.
Worse, as reconstruction techniques improve they'll just be abused more and more even for new gen only games. Xenoblade Chronicles 3 looks amazing for reconstructing 1080p from 540p and running on Switch, as good/better than FSR2 while running on super low end hardware as well. I wouldn't doubt we'll get the same for Series S games in time while Series X/PS5 reconstruct from 1080p to 4k or something similar.
Anyway, I do wonder what AMD will be doing now. That rumor that Nvidia will just be delaying everything but the 4090 due to the big oversupply of Ampere sounds pretty on point (I'll pat myself on the back for predicting it, pat pat). But less competition for AMD means they'll feel free to charge more, at least on the higher end. People will still want "new cards cause new" and AMD will be the only game in town.