It's not a power move, it's a cartel and they've done this before. Gamers Nexus did a fantastic piece on how where we're at today is very similar to the DRAM price fixing and market manipulation just a couple decades ago [0]. This is the big players taking full advantage of an opportunity for profit.

[0] https://youtu.be/jVzeHTlWIDY?si=cRJ6C7jPxLIpKTyF