To the analogy above, the music has been slowing for some time. Folks had FOMO, and I have never seen the type of spending I've seen in the past 2.5 years. Luxury watches/goods, boats/toys, and high end cars/trucks all went nuts. Keep in mind, this wasn't just the super rich that were making these moves, these are average corporate middle management types that just had to have it. Now that the tempo is slowing, tech is getting hammered, people are being laid off, and all of sudden, borrowing money isn't cheap. The pendulum is swinging back as it always does, and folks are re-prioritizing.
I suspect prices will come back down - perhaps not to pre-pandemic levels, but likely they'll come down. Couple this with boating season coming to an end, and you should see some corrections. I will say this however, there are still a ton of Americans out there who made an absolute killing in the last 3 years, and have high disposable income. I believe these folks are carrying a lot of the spend and keeping the bottom from falling out per se.