Yes, there are price drops on a lot of species compared to 2020-21. The 'easy money buy in' phenomenon is certainly part of it, but there are a lot less casual pet purchases in the last year. I think many people who wanted a reptile or three pulled the trigger during the early days of the pandemic and now they're set.
Yes on market saturation, too. There are 48,000 BPs listed on that big classified site today.
Morph-chasing is more complicated, of course, but over time they all lose financial value in a huge way.