For a long time I and probably most of the gaming world thought that AAA gaming would keep pushing almost indefinitely into greater compute. The 3070 being faster than a 2080 Ti, and so forth.
The longer the GPU shortage goes on, whatever the underlying causes, the longer the hard cap on the average gamer’s total compute power to run games will exist. I imagine this will force game developers to add actual game depth at the expense of 16x antialiasing (or whatever), in order to make their games competitive.
Big game engines that use 50% of a GTX 1060 just to run the base environment will be at a competitive disadvantage.