Couple thoughts.
1. What's the difference if your cards sit in your possession or PSA's? If a bulk submission was going to take 9 months anyway it doesn't disincentivize you to wait for PSA to get caught up in 4 months and then take another two to grade your bulk order, providing they get their ducks in a row for the slamming they are going to take if and when they accept bulk again.
2. This MIGHT hurt the raw card market on low value raw, high value PSA 10, cards. Jordan cards like 89 Fleer which were selling for nice money raw to people who intended to gamble with it may suffer as there is no way you're going to gamble $300 on grading that card.
3. It might well HELP the versions of those cards already graded because they are no longer infinite until PSA makes it affordable to grade them again. So cards like PSA 9 and 10 1989 UD Griffey might actually go up FURTHER because the supply isn't going to increase for a while and if the speculators are holding onto theirs it may make them appear more scarce than they actually are.
That's three thoughts actually but the last one hit me while I was typing the 2nd.
So if I were in this market personally, I'd likely look to buy raw and sell graded, not immediately, but I'd definitely be watching things closely.
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