Lets agree that if the mining price goes up, it will be always cheaper than public cloud. Otherwise, you would have run mining on AWS/GCP and be profitable. In this scenario, we are still able to offer cheaper price to the customers and higher price to the miners even by just binary switching. Assuming the gap is not negligible.

If the price goes down, customers will be able to set lower price. As long as GPU holders profit margin is high enough given electricity and maintenance costs, they will do the compute.

If the marketplace matures, pricing of mining, deep learning, rendering and other tasks will be driven by the market. At Snark AI we are working on towards creating this marketplace that will provide optimal benefits to all parties.