Today Raspberry Pi announced more price increases for all Pis with LPDDR4 RAM, alongside a 'right-sized' 3GB RAM Pi 4 for $83.75.
The price increases bring the 16GB Pi 5 up to $299.99.
Despite today's date, this is not a joke.
I published a video going over the state of the hobbyist 'high end SBC' market (4/8/16 GB models in the current generation), which I'll embed below:
But if you'd like the tl;dr:
While it may be common sense, I could also see “hey just jack up the price, we need the data points for advertising/data brokers”