There are plenty of vectors left to squeeze the existing IPv4 space especially all the Legacy assignments held by deceased companies and individuals. There is no procedure to reclaim them. Even when you invest time and money to find the relatives, the RIR may decline a transfer so nobody invests here as long as plenty of former hosting, colocation and regional access providers leave the market after their customers moved to the US hyperscalers or out or business.

I think around 2000 every new LIR at RIPE got a /19 allocation. Smaller companies are now almost 30 years old and the founders divest their assets step by step unless someone buys everything.