The bubble is extremely close to bursting. We’re nearing the point we got to in the early 2000s when labels got greedy with CDs, started overpressing things at ridiculous prices, and consumers got sick of it.
Nearly all pop artists are now starting to do vinyl singles again – 12" and 7", in multiple different variations – as a way to boost chart sales and get income, and they’re priced for maximum profit. This is on top of artists now doing multiple colourways, variations, etc etc as a way to get better chart placements and replace live income. It’s pure greed, and pressing plants can’t cope – hence why it takes minimum 3 months to get something pressed nowadays.
Couple that with endless Record Store Days and major labels pressing any old shite they can find from their catalogue (bonus points if it’s Fleetwood Mac/Bowie/Stones) that clog up record racks forevermore as a way to get some quick cash from the boomer dad market.
I love vinyl but this sort of behaviour by labels is atrocious for the environment, will just lead to stuff getting thrown on landfill, and have a knock-on effect on smaller artists.