The thing is, only Ethereum is big enough to support all those cards at a profit. All the other coins are just noise in comparison. So if everyone swapped eg from Eth to Raven, they all just pay the electricity cost and get sod all back. Worlds tiniest violins at the ready...
OFC if people really believed in crypto, then they would just sell their GPUs and put the cash into the Enron-esque nonsense that is DeFi. Looks pretty easy to get a 50% apr on an investment on there atm, which I think beats mining and probably with lower risk.