but what if ....
Supply doesn't create demand. I'm not hoping for another price crash, but it sure looks possible because it wouldn't be the first time.
Sorry but your logic is flawed. The supply can't meet the demand which is why people are over paying for asics in the first place, and why so many companies are trying to copy cat now. There is a very clear demand.
Yes the difficulty will increase and yes some smaller asic miners will be left out in the cold but most of them will have no problem getting a profit. It just won't happen overnight.
But in any case the people that make the argument that asic's aren't worth the effort are not thinking long term. Even if you struggle to make your initial investment back in bitcoins before the difficulty gets too high, you still have the hardware in your possession. It can easily be turned to any other sha-256 coin and continue making profits. I currently mine ppcoin and terracoin with usb erupters. I actually turn a higher profit in terracoin than if I set them to mine bitcoin.