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I think the problem with this line of thinking is that they also made lots of Donruss, Fleer, Score cards in 1988. They also made a lot of each in 1989 and 1990. It gets to the point, where people won't pay a lot for a specific common, because he can find 15 other cards for the same person. If you compare specific stars, the amount of different Ty Cobb cards available pales in comparison to someone like Tony Gwynn.
One other thing that supposedly took a lot of cards and such out of circulation, was a paper drive during WWII. I don't think we will see another paper drive like take cards out of the population. I encourage people to destroy cards from this era though, for the benefit on others such as myself. I wouldn't mind seeing a shredder at the National shows, where people just shred commons from the 1987-1991 era. You don't need seven cards of Alvaro Espinoza, so get rid of six of them now!
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