It was a trudge but I managed to score a Series S and X and a PS5 disc version. This situation is only going to get worse with supply shortages.
In terms of hardware sales, the PS5 sold roughly the same number of units as the PS4 during their first four quarters on the market, with both selling around 13.5 million units worldwide. Microsoft doesn't release specific sales numbers for their consoles anymore, but has stated on multiple occasions that the Series S/X have been selling faster than their prior console launches, with it being estimated that they have sold somewhere around 8 million units during that same period. So, it's not like supply has fallen significantly behind what they had planned. They undoubtedly reserved their chip production years in advance, after all, so chip shortages are unlikely to be that much of a concern.
There was likely an increase in demand, however, due to people spending more time at home, particularly last year. And while their supply of components has likely met what they had planned in advance, they have likely been unable to increase supply beyond those initial plans. While console availability might still be tight this holiday season, I would expect it to get better, unless there happened to be another major pandemic surge or something that were to keep a large portion of the population at home. But even then, I think businesses and medical institutions should be more prepared to minimize disruptions at this point.
The situation with graphics cards for PCs is a bit different, since much of the current shortages are the result of crypto mining demand, similar to what happened a few years prior. So card shortage recovery will be more dependent on mining profitability, or the lack thereof.