I haven't watched the video although I have heard about it. It's not very complicated and there is no need for conspiracy theories:
1. Covid came along and disrupted production of ammo and the related raw materials both domestically and overseas.
2. A significant number of new shooters buying guns and ammo.
3. Rioting and violence in a number of major U.S. cities with the local government placing restrictions on how the police were allowed to respond.
4. A presidential election year with the Democratic candidate being historically anti-gun and the Republican candidate being nominally pro-gun, which always drives gun & ammo sales up.
5. Contractual agreements with the military and law enforcement to produce enough ammo to meet their needs.
6. The lack of foreign made ammo to make up for domestic shortfalls in ammo production.
