It must be a law of common sense that if all you do is encoding every stupid video on planet, you will need an encoding accelerator because gpu manufacturers likes to lock down and charge alot for tiny part of silicon that does it.
Those shenanigans have a far smaller effect than the fundamental problem with buying a large GPU when you have no use for 80% of what's on that chip. That's obviously not going to be economical at large scale (especially not during a GPU shortage driven by demand for exactly the portions of a GPU that you never use).