Let's take a step and look at people who actually studied what is "luxury" like Maslow in a certain way :
View attachment 192575
(this doesn't cover the whole subject at all)
Even if our physiological needs are fulfilled, we cannot say the same for the safety needs due to pandemic : personal security isn't guaranteed, unemployment is at our door, some resources (not taking electronics into account) are missing, health is threatened every day ...
Only the top of the pyramid is luxury, no the rest even if in our mind it's like "Isn't that so hard to live in a dictatorship ?Nahhh"
My point is : we were quite a the top of this hierarchy before 2020. You couldn't play your favorite game ? Not that bad because you could travel, be somewhere else, see your friends, family, work on yourself, whatever. We were "the most we could be". So reaching for more lower tier desire was luxury at the time.
Now you're freaking stuck on our safety needs. Videogames comes with connecting with people and a bit of freedom for others. It's a bubble of fresh air, not only a luxury.
If we're so pissed, it's not because Nvidia is screwing us (they always do) like never before, but mostly because we are in desperate need of an escape.
We aren't all a big rich and happy family, with 2 kids and a dog, with a house and a garden. We all have our shitty lives going on, and cutting this is putting everyone on edge.
This is a long term situation, which will continue until the end of the Covid pandemic so people can travel and do something else. So let's say ... 2 more years ? because people are stupid and will break any curfew.
Edit : I do not criticize your post, just complement it. I agree about the "when the pandemic will be over", even if I don't see that coming any time soon.