Yeah, I was on the supply and demand train long ago. Ammo has shown to have a relatively low price elasticity of demand so raising the price only makes sense because it’s selling out regardless. With that said, actively lying to customers about the availability of products, to then sell them to someone else and have that competitor resell said products at a large markup to other retailers isn’t supply and demand, it’s a supply chain monopoly.
It may be capitalism at its finest, but it goes against free market competition with regards to restricted access. It’s not supply and demand when the supply is selectively filtered to only a few specific vendors. They’re not taking part in supply and demand (micro)economics, they’re effectively raising the barrier to entry for reselling ammunition.