Hardware prices, especially RAM, have skyrocketed. Priced out new baremetal servers recently and prices were 3-6x what we paid 4 years ago for the newer equivalents.

RAM prices, surely?

Is there anything to suggest these increases are not reflecting the increased baseline price of RAM, GPUs, etc?

If not then it is only a matter of time before other providers are forced into similar price hikes.

You are saying that like it's some kind of rag pull. This is situation of the market. The people who moved still saved the money and are still saving money because Hetzner is still cheaper and they are also paying the old prices.

It's pretty silent happiness over at the Hetzner camp.

they still save 3-5x

I believe the price changes themselves were not publicly announced by Hetzner back then. Just their intent to increase them once again.

See: https://news.ycombinator.com/item?id=48307959

For example, their 'Regular Performance' cloud server tier has seen a 173% price increase.

Where??