And then they'll buy back at horrendous prices when the Price goes up again? Seems like shortsighted people do this. At least they could play some tremendous video games in the mean time ;)
A whole bunch of people bought in last month when mining profitability calculators were saying you could make $X per month per card, where X is a significant percentage of the card's retail price. Now it's $X/4, the difficulty continues its steady rise, and the fiat price of ETH is totally unpredictable but appears to be on a downward trend.
Unless the price of ETH returns to record highs, the cards people bought last month will never pay for themselves. That's why they're flooding eBay.
[1] https://www.coinwarz.com/difficulty-charts/ethereum-difficul...
Lots of room for margin in selling them early and getting back in after the glut if you're looking long-term. Just take a few weeks out of mining.
Econ 101 obviously says the price of shovels will now go down...