They recently changed their agreements with card makers and forced very high pricing. They are charging more because they can, it’s the definition of price gouging.
An unhealthy, uncompetitive market would not have such a notable rate of improvement of the products as we see in the GPU market.
Plus, if it's competition you are concerned about, the situation is improving! Intel is getting into the discrete GPU market too.
To be fair, frames per dollar have been roughly stagnant for a couple of years. It's just that now you have the additional option of paying more dollars to get more frames. This is an unusual situation, but it is what it is. The AMD 7000 series is (so far) not better value than the AMD 6000 series. Same with Nvidia. That's odd.
This is very true for graphics cards BTW, and why Nvidia tried to lock card out of being used for crypto. They believe, I would think, that it was in their long term interest to cater to PC gamers and not crypto miners.
I'm getting price gouged when I buy SPY stock then, and gouging someone when I sell it.