Valve recently raised the price on the Steam Deck, making the handheld gaming PC cost up to $949 for the 1TB OLED model. While that's a massive $300 increase over its original price, the Steam Deck is once again sold out.
It's definitely getting worse, but I feel like it won't get that bad. I don't think that the unaffordabiltiy of PC components will result in gaming becoming a niche commodity, I think it will result in people either not being able to play certain games, or not play them at the settings they want. I think gaming will persist via things like cheaper or used hardware. I think also some game developers will adjust the performance requirements of their games so that it meets (or attempts to meet) the reality of what people are able to buy. Triple A gaming might die tho if they don't adapt.