Not a lot of profit in 22LR is what I read. When 22LR was scarce, so were other, higher profit components. More importantly, chasing temporary shortages created by political forces with capital investments is a good way to go bankrupt when it is over. I think manufacturers did what the could with temporary measures such as overtime, but intelligently didn't build a lot of new factories.
However, if they did, we may see prices come back down below the prices before the temporary shortage. This will be good for consumers who want to load up, but bad for the industry overall.
It is these up and down market forces that kill the small companies, and sometimes big companies who make mistakes, resulting in consolidation into 1 or 2 companies without competition to drive innovation, quality, and pricing.