The only way you could see today's rising prices as the beginning of a 1970s-style inflation is if you knew literally nothing about either period except that measured inflation was high.
A sustained period of strong demand-led growth has nothing in common with a sudden, exogenous interruption in production. To see them as equivalent requires a deliberate effort to ignore everything we know about what was happening in the world.
Between 2019 and 2020, worldwide auto production fell from 92 to 78 million vehicles. What is the scenario in which this *doesn't* cause an increase in auto prices? And why should we think this is at all informative about production capacity in 2022 or 2023?
Here's Mohammed El-Arian in the FT saying the economic damage of the pandemic will be with us forever, technological progress is over, we'll never again produce as much as in 2019. Can't blame him for talking his book I suppose, but why does anyone listen? ft.com/content/587a6a… 
You can see where the inflation hawks are coming from. The capacity of the Port of LA is just a god-given fact about the world, right? -- not something anyone could hope to change. Supply chain problems are with us forever. We may as well give up.
What Keynes wrote of deflation in 1930 goes for inflation today:"The resources of nature and men's devices are as fertile and productive as they were... Because we have magneto trouble, we need not assume that we shall soon be back in a rumbling waggon and that motoring is over."
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