Nvidia wants games to buy a new card every time they come out with one, whether it's any good or not. And for a long time, people did just that. But then the pandemic happened, and supply issues happened, and people found out that their current cards could play a lot of good stuff just fine, and they were chasing a carrot with a lump of crap at the other end of the stick. And now buyers are more wise, and Nvidia's still pricing the things like the supply shortages are still going on, and everybody's hoarding cards for mining, and so on and so forth, and we're teetering on the edge of a recession, and they're not going to buy a $400 video card when they're having trouble paying their bills.
I should know - I've been a PC gamer since before the first Voodoo3D cards in the 90s. I was using a Radeon R290 card until last year, when it died. I now have an Nvidia 1650. And the only game it won't play well is Far Cry 6. But that's fine, since a) I only play at 1080p, b) I play mostly older games, and c) I don't like Far Cry 6. I'd like to move up to a better card, but I'm not going to spend the money on something I don't really need and which doesn't give me any solid benefit. I'm done chasing that carrot, and I'm not the only one.