Demand is still high but much more supply and even more good stuff coming. The announcement of MMR has solidified that there is indeed supply. The "urgency" so many were following to buy the latest pin before they were all snatched up with a price increase that followed has been removed. With more options buyers are able to take a wait and see approach and make better purchasing decisions. The entire pricing model won't crash, but we'll see duds go for what they're actually worth while good games will hold their price. Manufacturers will indeed need to take care to put the attention to detail on their games to see them sell out.
Competition has begun shifting from purchasers competing to buy (whatever was available) to manufacturers competing to sell. We're not quite there yet but if mmr is a success then we'll fully be there. That's when we'll start seeing some fabulous games.
It's all cyclical though.