Hahahaha in south africa we have plenty of stock available, but due to our tax rates and import duties we get ebay level prices
No, that isn't the reason why they are that highly-priced here, if you look at the previous generations, those prices are more or less at the MSRP, they too are around the $400-$500 mark. This is simply greed, that is what is going on here. It's as you say, there is a lot of stock but people like me won't be done in because they are greedy, I am not paying $1000 for a $500 card, they can all go screw themselves. If they don't lower it, I will import it myself, it will come near enough to the MSRP for me.
I have been looking at their web pages for weeks now, hoping saner minds will prevail, but apparently not. They even have to gall to ask $550 for a $300 CPU (Ryzen 5600X)