Considering their position, I wouldn't trust a damn thing that memory manufacturers say right now. They're the ones taking advantage of the increased demand by increasing prices.

What does what they say have to do with it?

If memory manufacturers believed that elevated demand were likely to persist indefinitely, expanding supply to reach the optimal market-clearing price is exactly what taking advantage of the situation would look like.

The extent to which they're not investing in expanded production capacity is the extent to which they manifestly don't believe the current demand spike will sustain over the long term

That's not how it works. There's a lot of DRAM pricing scandals but this is not one of them.

In this supply constrained market, DRAM manufacturers literally aren't the ones deciding to increase prices, buyers who are bidding up the price of future capacity are the ones increasing the prices.