That's true but the profitability of mining still matters. Miners might run their miners and be in loss but that can't continue for a long time. The price of the coin has to rise in order to make mining profitable again or many miners will shut down their miners, which is not good for everyone.
There are other factors involved as well; but generally you are correct.
With each having when the reward is cut in half, the price needs to go up to compensate that. So far in each 4 year cycles, price has gone up. And the last halving we had was 5 months ago and the hashrate is not showing any signs of a drop. Not to mention the average price in 2024 is more than 2x higher than the average price in 2023, in other words price has gone up.
Other than that the between halvings we have 4 years of fixed block reward which means fixed revenue without needing the price to go up.