In theory sure but the used listings don't corroborate that. I've been on/off anecdotally tracking it in Japan (by that I mean just going on the app once a day and seeing what's there, how long it's been there and how much it's going for). PS5s used to be going for way over MSRP but now they're only just a bit over MSRP. That might (not definitively) suggest that scalpers have realized the game is up and they're trying to cut their losses (I'm not sure how the refund system works for PS5s in particular but I suspect it's a 30-day money back thing) so anyone holding it over that period cannot do anything except sell it for as much as they can get for it.
I think (at least in Japan) we're at the point where demand is
only just outstripping supply such that PS5s are coming in stock but being quickly bought up by "genuine" consumers (ie far fewer scalpers are buying them). At the same time, the fact that PS5s are barely higher than MSRP on the used/resale market suggests that most of the people who still want a PS5 have to decided to try their hand at getting one at retail rather than paying scalper prices.