Interesting theory, but I'm still making enough to live on from mostly GPU mining.
Profitability IS down to where only folks with very cheap electric are making any money though.

With that said, I don't see the announced RTX 2070, 2080, or 2080 ti being good mining cards vs the 10xx series at their VERY HIGH PRICE, especially with the older cards starting to drop to pricing at or below where they were at 2 years ago before the big cryptocoin price runup happened - and the move of Bitmain, Innosilicon and others to put ASIC into most of what used to be the more popular GPU mined coins hasn't helped that any.

It will be interesting to see how these newer cards perform on Folding (which CAN be mined indirectly), but I suspect they're not going to be price/performance competitive even there.