It doesn't make much difference that it takes a few years for new females to come online and for a new morph to become common. The collapse of the high-end market is not predicated on running out of new morphs, which will probably never happen.

The morph market right now is a classic Ponzi or pyramid scheme. They're pretty snakes, sure, but come on. They aren't worth five figures to anybody. The only reason anybody is willing to pay five figures for a morph is in the hope of making a profit by selling to someone else a few years down the road. The problem is, the road eventually runs out.

Ask the people who invested in Emus in 1980's how well that worked out for them.

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