I always thought that 700-800 days payback for an ASIC is a very bad investment. The profit will gradually fall and you have no advantages in the price of electricity. Video cards look more attractive with a 3-year warranty.
100% agree. The risk of ASIC vs. GPU mining seems to be the same, while the historical return is much higher for GPUs. The only question is what the profitability will be after ETH 2.0. My guess is it'll be similar to the 2019-2020 bear market, with a 20% ROI every year. High power prices aren't such a problem.
IMO, the worst aspect of ASIC mining is the hardware failure rate, which can be anywhere from 5% to 40%. The average seems to be 10%/year these days.