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describing the situation as a simple supply/demand transaction and calling it a day ignores the underlying premise that either all supply/demand transaction are ethical or this specific practice is free from ethical consideration.
the former is plainly false and the latter hasn't been proven (at least, not to my satisfaction).
after reading some of the responses, i'm pretty sure there is no way to say that the practice "wrong" simply because vid-game consoles are a pure-luxury item. using the same tactic (for instance) by charging $100 for bottled water after hurricane katrina would be a different matter... it's still a supply/demand issue but the seller is directly preying upon the misery of the buyer (which, i think most would agree is unethical).
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If you will not fight when your victory will be sure and not too costly, you may come to the moment when you will have to fight with all the odds against you and only a precarious chance for survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves.
~ Winston Churchill
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