I don't think you're seeing it entirely wrong, but there are other effects this is having other than locking away money. One positive effect this is possibly h

I don't think you're seeing it entirely wrong, but there are other effects this is having other than locking away money. One positive effect this is possibly having (I haven't seen a direct analysis of this) is to boost GPU R&D. Right now it sucks for people who want to use GPUs for other things, because it's causing shortages, but that's presumably not a permanent state of affairs. And better GPUs will be good for a lot of other fields, particularly AI.