That is not the same thing as "greedflation" (getawaywithitinflation?) so it also conflicts with the article. You seem to be suggesting more of a buyer side change in what prices they forgive.
Any explanation needs to show why it didn't happen from 1990-2021, did happen 2021-2022, and then partly undid itself. Certainly some room for psychological factors in 2020, but it's probably not the main reason.
Yes, the explanation is pretty simple, buyers assumed that it was due to the Pandemic and the War in Ukraine, and all the effects on supply chains and all that.
It's not even necessarily "they got greedier", even CEOs expected troubled times ahead, and rising costs, so they also increased their prices, but they did so preemptively, instead of as a reaction to actual rising costs. What happened then is that they raised prices higher than the costs ended up being, and they did not immediately correct this, until they started seeing buyers change their behavior where they now feel the pressure to lower prices again (in order to sell more).
Any explanation needs to show why it didn't happen from 1990-2021, did happen 2021-2022, and then partly undid itself. Certainly some room for psychological factors in 2020, but it's probably not the main reason.