Has the World gone completely stupid

Yup, human stupidity has no limits!  

You must realize ALMonty that about 70% of the human race is just plain ignorant and stupid, and then there is that 10% who are nothing but a bunch greedy bastards, and about 10% who are complete and utter idiots, like those bidding on those items. Another 8% are just plain rich and could care less about the rest of the human race. Then there is that 2% that help others, like Bill Gates and several others, me included. If anyone, and I do mean anyone, has money they don't need to live on, they should be helping others too.

Do the people doing these things know the can be prosecuted? 

The 8 bids are probably fake accounts owned by the poster.

Amazon had to act on its third party offerings to stop this sort of thing in their market space.

Tom I'm going with the 70% here.

Sold Listings

Here in Australia the government watchdog has been looking out for and prosecuting price gouging.  The people trying to offload those items at such exorbitant prices are the greedy bastards and should be fined heavily plus have those posts taken down.  The complete and utter idiots are the people bidding on those items, but hey, it takes a crisis like corona virus to bring out the worst in some folk.... greed and stupidity.