I am going to offer a brief little conspiracy theory about what is behind the current fee rate inflation.

If a miner had a large stock of bitcoin and a lot of debt chasing them they might temporarily be able to squeeze a profit out of gaming the fee market.

They might think the fuss about ordinals will smokescreen them, or that malign institutionals are burning bitcoin to get a new low entry point. There's many reasons that it could be.

Let's say that a miner with 20% of the hashpower has a buttload of reserve BTC enough to buffer against the inevitable end trajectory of fee rates. They start making transactions that look plausibly like other common large transactions, but pay very high fees.

Fees were only about $3,000 worth per block a few months ago, now they are upwards of $60,000. That is a 20x. If they lose 20% making the tx, but mine 1/5th of these now 20x sized block fees... Right at this moment that amounts to a 400% profit.

In other words, until fees get to around 800sat/vByte someone can keep doing this and effectively doubling their mining income, which would be pretty handy if you were teetering on foreclosure.