I know I'm going to get some flak for this but:
I have come to the conclusion that the insane shortage is due to hoarding by shooters, plain and simple. It became pretty obvious after the Walmart and Cabela's "raids." What makes it sad is that our shooting brethren seem to have no regard for letting someone else have a chance to keep a reasonable reserve of .22 shells on hand for normal usage. I read a forum where a guy was boasting that he had been able to buy many thousands of rounds with the help of friends, even though he had a large supply already. I talked to a guy at Three Bears in the Valley who told me he did the same, including having a friend who doesn't even have a .22 rifle or pistol, and he has a really big supply already. Then there are those who are doing it to sell at ridiculous elevated prices online and at the shows. I won't comment on how I feel about that, thank you very much. I just think it would be considerate, and yes, a little more ethical to purchase a decent supply but to let others have a chance to do the same. I have a few thousand that I have gathered over time and it will be good for a while.
I know there will come a time when all bets are off, and someone having a vast reserve of ammo will have to defend what they have, from normally decent folks who are desperate. God Bless the USA.