I have two Rolexes that make me feel very accomplished. An original Kermit and 2nd gen Cameron. (I also thought the Deepsea was insane when it debuted, but the BLUE gradient dial AND 2nd gen modifications changed all that! BTW, mine fits my wrist beautifully, is exceptionally comfortable, and does not seem too large. I think it is my all time favorite sport watch.) I have owned other Rolexes, but settled on these. I see no sale of them coming.
It is a combination of this, and Covid (being more grateful for what I already have, 'allowing' myself to be satisfied, when before Covid, I simply could not, and related shifting priorities) , AND what you say in your post... AND, honestly, the changes to most models being so infinitesimal as to be make one feel unmotivated...
I saw the new Subs and thought, hmmm nice. And moved on in my day. And for myself, too, it was the very first time since I started collecting, that I felt nothing much at all.
Personally, I am not overly frustrated by the difficulty in finding a Rolex, because it has always been this way, for any Rolex except the black Subs, which are now also impossible. But to me, it's all the same. You politely pester the AD of your choice, and usually by surprise, you get a call, and it's always been that way...
I still very much admire the evolutionary changes in the Subs...