Because ISK numbers haven’t really moved. Things have blown up, but look at the rate of destruction: it’s been flat. And production… well, it’s ramping back up already. Mining totals are increasing (though we still can’t really say how that’s valued. Is it the Jita value of the ore? Compressed ore? The minerals in the ore? each of those would give different numbers).
Anything coming out to null markets is feeding money into corp and alliance wallets via market fees and, you know, The TTC. Until highsec stops handing us their money in Perimeter… well… hah.
(Also hah: BRAVE and the rest of the Legacy Coalition still don’t actually make any money off of that, because TEST doesn’t give them their share as ISK, they give it to them as ‘value’… like charging them 12b every 3 months for access to the coalition’s pings.)
Then you have other income streams, like the war bonds that a number of the larger null groups floated, which moved a bunch of ISK from the wallets of inactive characters over to their alliances. Incidentally, this is part of why you see the ISK supply in Character/Total bump up Nov/Dec—inactives coming back for the expected supercapital brawls—and then dropping off again basically as soon as those characters are inactive for a month at the end of January. (CCP still claims those wallets are tracked for 3 months, but every attempt to line up the data to activity numbers shows they’re only tracking a one-month window. It’s like they still don’t understand their own data, despite being handed a fairly comprehensive powerpoint presentation to demonstrate what’s been wrong with the MER since forever, this past month, prepared by someone who understands the EVE economy waaay better than CCP does).
And now, as the nullsec revenue streams have moved to highsec, and are mostly in NPC corps so they can’t be wardec’d, we’re seeing the money supplies open up again. Which was also entirely predictable (and predicted, by basically everyone who isn’t CCP).