Funny thing is that when the decline had been going for a month, people kept saying "well YTD is really what you should pay attention to.

Now the goalposts have moved to five years.

Note that after infamous black Tuesday in 1929, all the charts generally show the decline from one month prior. Black Tuesday didn't look as catastrophic if you looked at one year graphs. It would have looked positively rosy on a five year graph, despite being one of histories biggest financial catastrophes.

Maybe, but even if hardware companies like NVidia and Micron only go halfway between where they are now and where they where a two years ago, they would have to course correct basically all of their plans for years.

Wait til big players start either breaking contracts for production allocation, or selling of the stock they bought at dirt cheap prices in order to make the best of the fall the software side of the house is about to face.

High end IC production requires literally years of planning. They had better work on a contingency plan.