not really, the ROI of about 1 year - 1,5 year is very good in the business world. ROI will continue to go down, its a simple supply/demand/allocation of resources in the business world (which crypto has taken a seat in). As the marked matures, the risk decreases the ROI will also increase.

They will buy cards with quantity discounts, without/low VAT, they will have cheap electricity and they will try to get low taxes. and when nvidia and amd launches new cards they will be before you in the queue. Now let's assume things are going well! Right good for everyone? Not necessary, they will increase their investments into the sector, further increasing ROI and pushing your profits down. Their profits will be larger, their share of the market will increase. ASICS development for algoritms will increase, limiting the flexibility for GPU mining, if some companies with GPU mining has a large "breakthrough" the profits will be temporary, the asics will arrive. Or mining farms.

I have 3 riggs and think its great fun, but I'm not buying more(just replacing cards). Can you still make money on mining? sure. Great money? maybe. But current status and development the effort and risk I dont think see how ROI can go down. You can still get lucky. There is no scenario where we go back to old profits, that was early/first mover advantage (possible exception is an insane increase interest rates and inflation).

If you think the business world is just gonna sit and watch us make ROI >1 year and not jump in, you are in for a wakeup call.

My 2cents. I'm sure you will absolutely slaugther me, but wanted to share my thoughts.