The effects on prices are quite bad, but the pendulum always comes back in the other direction two. Every GPU shortage leads to the second hand market getting flooded a few years later with used mining GPUs.
So in effect we get short term problems, but if you time your purchases correctly you can get deals too.
The problem that a few years later those GPUs aren’t worth much and with more and more coins coming out miners have always something to fallback on for their older hardware.
It doesn’t look like the GPU flood of 2015 would happen again.
Well, not everyone is aware of this, and 2nd hand mining card price points on various market platforms probably will push down the prices of everything else to varying extents. (both new, as well as 2nd hand gamer cards).
So in effect we get short term problems, but if you time your purchases correctly you can get deals too.