How do you determine what it "should" cost? Because the market is speaking loudly that even $1600 is "too cheap" for what the RTX 4090 delivers. It's undoubtedly not all from the gaming sector. When Nvidia sets a price of $1600 as the baseline and nearly every card currently available for the past two months has been sold for $2000+, you were never going to see $1200, or the mythical $800 that you've pulled out of GOK. If you were to say the RTX 3090 was too expensive at $1500, I could agree with that. It was 10% faster than a 3080 for theoretically more than double the price.
Now the market has shifted and you get a card that's over 50% faster than the previous generation "$2000" card, 30% faster than the new $1200 card, and anywhere from 25% (rasterization games) to 94% (ray tracing games) to 240% (Blender) to five times or more faster in AI training and inference compared to AMD's latest and greatest. And that should cost less than a grand? I mean, it would be lovely if it did, but it's never going to happen. Graphics cards are now for more than just gaming, and even if you're mostly interested in gaming, the absolute fastest card at any time is not going to ever drop below $1000 again. That's the reality we now live in.