I can get a 3070 right now, but god it's expensive. Can get one for 18299 from a reseller, new.
I'm pretty sure 3070's were like 14k when they first came out?
So like, wtf. I can't tell if this is going to get better or worse. I've heard that EIP - 1559 is gonna cut eth profits by 60% leading to a crash. But I've also heard the GPU shortage is going to last at least a year.
Do I just suck it up and buy it and hope im not making a mistake?
Depends on the variant. There's a big price and performance difference between 3070 variants.
The standard Asus RTX 3070 still goes for around R14,500, whereas the Asus Strix OC variant goes for around R19,000. Those prices haven't changed. (Good luck finding stock). The more expensive 3070 cards have higher boost clocks, better cooling and higher power limits than their cheaper counterparts. With the 3000 RTX series, the power limit plays a big part in boost performance. The normal Asus RTX 3070 has a power limit of around 220w, whereas the Strix OC pushes that up to 280w, which gives you a performance gain of 10-20% in most cases. Thats two 3070's from the same manufacturer, but with different price points and performance gains.
There's a R9k difference from the cheapest 3080 to the high-end 3080's too, ranging from around R19,000 to R28,000. I spent R24,999 on my Zotac 3080 Amp Holo a month ago from Wootware after refreshing the GPU page countless times a day for 2 weeks! I was desperate to get a 3080... I was checking Wootware around 20 times a day. A card would appear, then almost immediately disappear (mostly Palit, but I didn't want the Palit), so I was delighted when Wootware showed stock available and immediately purchased it - checked later and they were all gone again, but Wootware didn't change their pricing.
Decent retailers don't hike prices due to demand - I certainly haven't seen Wootware or even Evetech do that. It's resellers on bid-or-buy and Carb that hike prices, as there is always someone willing to pay.
This video explains the difference between the cheap 3070's and the more expensive ones - and why there's such a price and performance difference.