"Could it be that we were all fooled all these years?"
Yes and NO.
Yes because we could not foretell the extent in time and depth, in short the staying powers for price controls.

NO because the so called wishful thinking is due to over printing of fiat money in which the precious metals are priced. Sooner or later the manipulative bubble has to collapse.
Just look how much of the PMs has changed hands from manipulators to steadier ones. That can not last forever and when the metals are drained paper equivalents will no longer be accepted.
Causing a collapse of price control, i.e. price explosion.