I'm not an expert, but I've read highly-cited ML papers where the researchers barely bothered with hyperparameter search, much less throwing a few million dollars at the problem. You can still get an interesting proof of concept without big money.

And low resource computing is more theoretically and practically interesting. I've heard experts complain of some experiments "they didn't really discover anything, they threw compute at the problem until they got some nice PR." This was coming from M'FAANG people too so it's not just resentment.