You can't compute fib(n) recursively with O(1) transistors. Maybe if you use the non-recursive exponentiation formula.
Analog electronics is different from digital computation because it's not about inputs and outputs, cause and effect in the same manner. A circuit maintains an equilibrium between inputs and outputs. The input doesn't cause the output as the changing the output may affect the input.
Just a simple resistor is an example: is voltage or current the input to Ohm's law? Neither is.
Same with the opamp feedback loop. It looks like it feeds its output to the input and then repeats. But it doesn't, it just maintains the same relationship between them by pumping electrons from the power supply. Short circuit the output to ground and you will see the circuit load the input circuit more.
That said opamp circuits are very cool. The patent for negative feedback was rejected as "another perpetual motion machine". Yet it works and it works magically.
A (bad) opamp can be cobbled together from 4 or 5 transistors. Yet it can do, together with negative feedback: addition, subtraction, multiply by constant, integral, derivative, exponent and logarithm. Probably others too. Combine log, add, and exp and you have a multiplier.
But it won't do a Fibonacci, a factorial or the Ackermann function.
There is no way I am aware of that could compute anything of recursive nature with a constant number of parts. You need some form of memory ("space") and a method of repeating the same computation ("time") to qualify.
You certainly can build this kind of computer with digital, or even analog, circuits. But negative feedback in opamps is not it.
This is my contribution to the Sunday morning semantics debate on the nature of recursive computation.