Earlier quoted context omitted.
It's just a situation where capitalism doesn't lead to the most economically efficient solution. The company and the consumers are rational, yet for no additional cost, everyone could be benefiting from better hardware. Unfortunately I don't have a better system to propose :)
Why is that? The major cost is the one-time cost of designing the chip, not producing it. Software is even more extreme: the distribution costs are essentially zero. That doesn't mean the most economically efficient solution is for the software to sell for nothing.
Consider, Intel produces a wide range of CPU designs specifically because production capacity is what is most expensive. Video cards are something of a special case because they are highly redundant so companies can sell highly damaged chips as slightly different models. However, demand rarely matches the rate of defects so often chips are sold below capacity.
What confuses the issue is 'pro' cards that may preform worse than 'gamer' cards, but cost a lot more. However, that's more a case of different needs. Consider, stability is a lot more important to the 'pro' market which down clocking provides. Toss in some driver tweaks and a small market and you end up with a high priced product that does not cost more to manufacture.