FWIW, limited edition printing is absolutely standard practice for working artists who use media that can be easily or mechanically replicated, including photographers, printers, and digital artists.

The feeling of FOMO that it instills is indeed one reason, that benefits the artist, but the main reason limited editions are used is to add value to the art through scarcity, and this reason benefits you the buyer. People don’t want to be the first to find and buy something unique only to have it get so popular that all your friends and neighbors go buy the same thing, right?

The story of uniqueness is important. There’s a very real perception that art that can be reproduced indefinitely and is always available is cheap and not really fine art. Limited editions prints are trying, even if half-heartedly, to compete with painters and sculptors who produce something unique every single time. I say half-heartedly as a digital artist who prints limited editions, not as an insult. There is a slight degree of having cake and eating too. Limited editions are usually sized near the estimated sales limit, or such that the artist can move on to selling other work without feeling like they lost a big opportunity.

Limited edition print runs do lower the price of a print, but not as low as the cost of printing. If an artist does editions of size 1, they need to make enough money to live, and $90/print won’t do it if you only sell one. You can spread the profit across a run and give a group of people something for a low price instead of giving one person a high price.

But, I guess we just have to have an art budget with some money already set aside if we want to jump on opportunities when artists do this. I respect it, but yes it's a bit inconvenient.

PS. The full, uncropped shot is even more incredible IMO: https://cosmicbackground.io/cdn/shop/files/Overhead_black_li...