The article confuses cause and effect. Stratospheric corporate profits are the result of too much money chasing too few goods and services, the same as it's always been. The culprits are not corporations but rather profligate spending by rich world governments.

During the pandemic central banks reacted by opening up the money spigots, injecting vast amounts of cash into economies trying to keep them afloat. It was the right thing to do. The problem was that they never turned off the taps, nor did they raise interest rates or taxes to try to balance the books.

The fact that companies raise prices in response to shortages is not only natural it's also desirable. There is no other way to align supply and demand short of rationing.