Many cryptocurrencies are designed to be efficiently mined on GPUs, with the idea that mining would be more decentralized. This may be effective to an extent,

Many cryptocurrencies are designed to be efficiently mined on GPUs, with the idea that mining would be more decentralized. This may be effective to an extent, but in the case of rapidly rising prices like we're seeing now / over the past months, there are some side effects. Furthermore, in the 'alt' space (i.e. not-Bitcoin), there is a lot of competition and you don't want to tie up large capital expenses to inflexible hardware. GPUs can mine whatever trendy coin is currently pumping. Miners switch to mining different coins in order to maximize return.