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No one claims markets don't adjust. The claim is that unregulated markets often don't adjust for the benefit of the society at large. It weren't as amazing when the GPU prices soared due to mining, was it?

That's not quite right. The affordability increased slightly with the falling prices. But the merge basically opened the floodgates. It was a change in technology rather than a "market change" (as in business incentives balancing over time) that caused it.

> ". Crypto prices fell and GPUs are now affordable without any government intervention"

https://en.m.wikipedia.org/wiki/Market_failure

https://en.m.wikipedia.org/wiki/Cartel

https://en.wikipedia.org/wiki/Bullwhip_effect

https://en.m.wikipedia.org/wiki/Demerit_good

https://en.m.wikipedia.org/wiki/Information_asymmetry

https://en.m.wikipedia.org/wiki/Wikipedia:Avoid_Parkinson%27...

And countless others.

This assumes these things don't operate in an environment affected by multiple nation states and their specific regulations