What's your opinion on the coming (or not) GPU crunch?

When looking at cloud GPU availability and current trends (no one except some enthusiasts and bigtech is finetuning and serving on a large scale yet and results keep getting better and better), I fear we will run into a situation where GPUs will be extremely expensive and hard to come by until supply catches up?

I ordered a high end PC with 4090 for the first time in years (normally would always prefer cloud even if more expensive) because I want to be on the safe side. What do you think, is this irrational and just a bubble thing?