It is a different vibe, because there are not huge buyups at the wholesale level. That is what busted up the 90's market, Cases and cases of books being hoarded and retailers having to eat books that were pre-ordered with the idea that sales were going to remain high. When the speculators had to eat their cases of Superman 500 and the retailers who couldn't pay their Capital or Diamond bill folded, poof!!
The specing on back issues that is going on now is very reminiscent of the specing that was done in the late 80's early 90's - you just switch out "new movie" for "new ongoing series." 1990 - Deathlok gets new series, Astonishing Tales back issues go bananas. 2013 - Antman is getting a movie, Marvel Premiere 47-48 go apespit.
It seems more drastic because the stratification of grades and the slabbed comic market makes everything seem so out of control, from a pure price standpoint. But it really is very similar. And it is my belief that specing on back issues will not have as horrible an effect as the speculator bust of the 90's because there are fewer potential losers.