> The people who really need the chips, and would be willing to pay a lot more than $X for them

The people who really want the chips, and are able to pay a lot more than $X for them.

Please can y'all stop pretending that raising prices allocates resources by need and willingness to pay? With the level of spending power imbalance, the person who wants something and has too much money will ALWAYS squeeze out the people who actually need something and have less money. Always. No other factors are considered by the market.