Ok, so in theory maybe so....but he was obviously way over and that was not due to a lack of supply. It was due to greed.
So as a business man you fault him for attempting to squeeze as much money as he can out of what he has, knowing he probably won't be getting too much inventory for the rest of the year?
If I needed x dollars to keep my doors opened and only had half the inventory coming, I'd double the price.