I don't see that ever happening, simply because of raw materials. There's not enough available per annum to service the storage needs of the industry with just flash. I expect we'll see flash and HDD alongside each other for the foreseeable future. If His Muskness ever gets asteroid mining to be economical, that might change. I don't expect to see that in my life time.
To some extent this is an artifice of the market. There appears to be far more competition on the SSD side than on the HDD side. I won't discount that the DRAM chips may be coming from a limited set of foundries, however.
For example, the other day I had to choose between a used 2TB enterprise NVME module and a "new" 2TB Toshiba CMR 2.5" drive. The cost delta was so low, I went for the NVME drive. Had I chosen a consumer-grade NVME module (WD Blue), it would have been close to parity, even if the NVME module was new. Now a SMR drive would have been a
lot cheaper but its performance would have potentially been terrible, so no thank you.
The price trends for all things microelectronics continues unabated, but not so much for HDDs, or they would be cheaper than they currently are. The periodic flushes of cheap HDD storage seems to signal that HDDs could be sold at significantly lower price points but that the oligopoly is keeping prices high in general and dropping them only occasionally to opportunistically skim the price-conscious end of the market.
Put another way: Only in the HDD market is it cheaper to buy an enclosure with a drive than just a bare drive. That in itself speaks volumes about how upside down the HDD business is. However, I have no doubt that the HDD OEMs figured out that this was the way to maximize profits, just as other industries have (change, seat assignment, baggage, time-of-day, route, etc. fees in the airline business).
I doubt it has anything to do with asteroids, however, as there is plenty of silicon here on earth (though we have occasional shortages of pure silicon production capacity).