I guess there is a reason behind the madness but currently on newegg GTX 1080s are going for way more than RTX 2080s. In fact my RTX 2080 is 20 bux less than what I paid and there is also a $60 discount code which makes it 80 bux cheaper than when I got it. Similar older 1080s are at least a hundred more.

Why is this? RTX's crapping out?

I push this card to the max for primegrid and I have had zero issues. Well worth the investment.

I believe it is expected that there will soon be GTX 11xx cards equivalent less the ray tracing functionality, which isn't yet supported by a damned thing (and halves your performance to boot when turned on) for a lower price than RTX cards.

This makes the RTX cards sell poorly... and imo provides a plausible cause of the price cuts.

Remember back about a year when the GPU shortage hit from all the crypto-miners.
Sites like Newegg were over-paying just to have stock and when crypto declined the GPU sales went with it, but the stock of over-priced cards remained. Also, when looking on Newegg make sure you have Newegg selected as the only seller as some of their Marketplace sellers have some very interesting pricing on things.

I just looked on Newegg.ca for Newegg as the seller and there's only two GTX1080's and one GTX1080ti listed and they're all out of stock. Any others are from Marketplace sellers so the pricing isn't exactly trustworthy.

I believe it is expected that there will soon be GTX 11xx cards equivalent less the ray tracing functionality, which isn't yet supported by a damned thing (and halves your performance to boot when turned on) for a lower price than RTX cards.

This makes the RTX cards sell poorly... and imo provides a plausible cause of the price cuts.

It is normal for the outgoing generation to go UP in price as stocks exhaust. The reasonably priced ones will go first, leaving only the higher priced ones at the end.