Importantly, the imbalance has changed, and the valley has not seemed to hold a grudge. There have been shifts during the recessions, and certainly after the 2000 bust, but it's a fact of life: the power dynamic sometimes changes, and the best deal you're able to get at the time is the deal you are going to get.

It's not entirely unlike mortgage rates, tbh; when you refi matters, due to the rates being variable. When you raise also matters, but sometimes raising is the important part, and the terms are the terms.