I have no look into inventory so I have no clue but there can be any number of reasons to explain potential shortcomings in sales.
Even if December is similarly flat from last year, I wouldn't make any call until after March. If Q1 is crazy high compared to what is normally sold, then demand is still very high.
Just looking forward, Jan/Feb seem like near-locks to be up big YoY. Software is stronger, momentum should be a little stronger, and supply should be better.
March is impossible to top in the US, that 2020 figure is insane. I can see 450-600K range for all three months, meaning Q1 YoY would be flat if it hits the middle of that range.
Following that it becomes less clear, with little insight yet on what their software/hardware plan is going to be.
But yeah, maybe demand has finally tapered too, we'll see how it plays out.