The M in both NMC 111 and NMC 811 should be manganese. It's also a mistake that nickel is "cheaper than manganese or cobalt". It is certainly cheaper than cobalt, but much more expensive than manganese. It's still better, since cobalt is quite expensive and there can be some ethical issues with the supply chain of cobalt, but if it were possible to make NMC 181, that was mostly manganese, it would be better.

As for your first point, higher demand typically causes higher prices in the short term, then often lower prices in the medium term due to oversupply of investment, and eventually lower prices in the long term, due to economies of scale.