With mining, of course, the prices for video cards have risen very much. I myself look closely at the line of Nvidia and here the price for them will drop after the release of the next line. In general, I think mining with the rise of the market will still show itself in all its glory. Only when the market begins to grow is this a big question
The thing with the new cards is that they're much more expensive and it'll take some time for miner developers to take advantage of the new hardware.
Also there is a limited supply of new cards.
Because of the above reasons, it'll take a looong time for miners to upgrade... and it will more likely require an entire bull run on the market before people rush to buy cards for mining purposes.