You sound like a market fundamentalist, market is always right, no need for regulation on predatory behavior.That is the emotional calling, which is also understandable. When you are emotionally charged, you don't see possible rational explanations and you are likely to do something that is in retrospect not much different from shooting yourself in the foot. But it felt good and right at that moment so that was what people wanted and what politicians made it surely happen. The real consequence is often not made public and is soon forgotten. It is like a funny stupid game we human beings play.
Look, there are obviously plenty of hotels in Zhengzhou. They have survived free market with normal market prize, so obviously they are making money with normal market rate.
Now, their occupancy went up, because of higher demand, therefore they are making more money with normal market rate.
What the gov't did is right, such that all that people that need accommodation will have a place to go. The gov't only need to use taxpayer money to provide accommodation for those that really need it.
I have no idea what you mean by real consequence. It is not like this is the first time that China has a natural disaster, that create temporary disruption to market. The gov't has lots and lots of experience in dealing with this sort of thing, and things will get back to normal in no time soon.