Innosilicon just released a 500 mhs miner at 750 watts, no sure who is buying a it with progpow algo change.
They didn't just release it... it's been available for over a year
This is probably why ETH value has gone to the dumps. I've always been a strong supporter of ETH but they never deliver or follow through on their promised timelines. They said they would switch to POS very soon, three years ago. There seems to be little progress to make ETH really competitive on a global scale.
Theres always hope in the future ETH will rise again, but at this rate, it may be better to invest on other things for now.
I don't think its because of the ASICs why the price is suffering. Sure it might lead to some sell pressure but the block reward was already reduced twice and the miner revenue today is much smaller than in the past.
The issue is more related to the ICOs which still hold tons of ETH and they sell it on every rally. There are the bag-holders who bought at $1000 and are trying to sell for the smallest possible loss and there are ETH futures which can provide tons of shorting opportunies due to the huge liquidity they provide compared to the spot ETH markets.
Even when ETH finally goes POS it doesn't gaurantee it will return to the 4 digits. Keep in mind ETH was like $10 before the crazy 2017 rally and BTC was like $800. So its price today is still greater than BTC if you compare the ratios.