This has always been the case. Economists are great at explaining the economy in retrospect - oh if demand rises we'll see extra supply. Oh except the suppliers

This has always been the case. Economists are great at explaining the economy in retrospect - oh if demand rises we'll see extra supply. Oh except the suppliers can predict peak demand and won't expand to meet unsustainable demand causing a shortfall in supply even under excess demand. Sure, it sounds obvious, but actually predicting it rather than observing it is what's valuable.