It also means poor people can’t get water or basic food, rich people can. Many people are not OK with that, so instead we have shortages and the early bird gets the worm (but no relation to ability to pay)
Remember: The alternative isn't that poor people get supplies, the alternative is that very few people get supplies.
Of course, whether this situation is an emergency of that sort or not is up for debate.
We normally have some stock in the pantry but really stocked up around the 3rd week of Feb. Exiting this, we are likely to keep a deeper supply of certain shelf-stable items on hand, to reduce the risk of inconvenience next time. If we had strong price signals to support that behavior, I think there’s power in the whole public doing that.
The rich people's money is going to arbitrage, not being invested into making more supply