A lot of miners are probably still in the denial phase thinking they'll mine a PoW fork of ETH or the remaining GPU-friendly proof-of-work coins like ETC or mon

A lot of miners are probably still in the denial phase thinking they'll mine a PoW fork of ETH or the remaining GPU-friendly proof-of-work coins like ETC or monero. It's easy to fall for it: if they look at what their mining power will make if applied to the pre-merge difficulty and rewards, it probably does look okay. Of course, in reality all the ex-ETH miners doing this will make difficulty go through the roof facing a constant reward, taking them below water. Some who understand the above may think that price of other PoW coins will increase matching increased work ("there's more work, work is value, more work higher price, right?"). Then at some point all this will unfold, taking PoW coin prices down, which will increase coin sales to pay shortfall on electricity bills, which feeds itself, so once all this is done one can expect both very cheap GPUs and cheap ETC. LOL. Then we'll probably get a bit of bungee jumping on the share prices of AMD, Nvidia, etc as the stock market participant interpret the associated blip in new GPU sales as "the end of gaming" etc.