Why are petpets so cheap now?

The last time I was on neopets was two years ago. I recently logged back on and was shocked to see that the prices of petpets has basically plummeted. I'm seeing petpets that used to be in the 60k range sell for under 5k, and many that used to be above 100k are buyable now. I even saw a petpet for 2np! What gives? Did everyone stop wanting them all of the sudden? Or was there a huge giveaway or something?