This is not the case. Prime Day is just a glorified yard sale; always has been. It is done in mid-summer to free up warehouse space for new products that will be sold during the upcoming holiday season.
Also, as someone with experience in this field, the supply chain is NOWHERE near stabilized. Retailers stocked up on inventory over the last year trying to get ahead of these 'unexpected delays'...but now the world economy starting to fall off the face of the planet has to be factored in as well. These warehouses are overstocked with goods that are not selling as fast now. We're already seeing a pullback in consumer spending as people hold on to their hard earned money or are having to move that money to other areas like increased food costs. These continued 'sales' are just low effort attempts to drum up extra business to get that extra inventory out of the warehouse. Sitting on inventory is incredibly expensive.