They sell chips to GPU manufacturers for a tiny fraction of GPU MSRP, then GPU manufacturers put them together and sell to retail for just under MSRP. Then retail sells them at whichever price point they see fit. Then there are scalpers who buy from retail and resell at whichever price point they see fit.
Chip vendors nor GPU manufacturers don't profit off the shortage, scalpers do. Besides, price vs sales curve is highly nonlinear, and by increasing the price you sharply reduce your sales, at a net negative profit change. So the whole idea of "create artificial scarcity for massive profit gain" is stupid at the core, that's not how it works. People simply don't buy expensive shit and then you get a huge loss of profit for every person that can't afford your increased price shit.
JFC when you make an argument involving other people, directly or by proxy, stop for a minute to think what other people would actually do, and not just go with your imaginary scenario where they do what you need them to do.