But yes last year we saw an increase, for obvious reasons, and the speed at which enrollment is currently dropping is lower than it was before COVID, but there's still less STEM graduates every year. Not just in the US, essentially everywhere.
On top of that young people are still running away from STEM degrees to liberal arts degrees of various kinds (but that doesn't work as well as you'd think because there's other problems there). Not even to all of liberal arts, just a few core directions.
I suspect it's far more difficult to recruit Computer Science PhDs who will work at these prices, so they probably have to rely on more expensive full-time, tenure-track faculty who likely are paid more than their peers. If you're passionate about teaching or your area of research, you'll probably cope with the lower pay - but that greatly narrows the pool of applicants, especially when FAANGs will pay you 5x more to work for them.