AWS's pricing model works kinda at their OMG eyewatering scale - aka all the custom hardware they design is highly cost optimized, but just doing custom hardware has a notable cost. This is easily covered by their scale, to make for their famous margins. [during their low scale times, they did use a good bit of HP/Dell, etc]
Oxide seems to be no different (super custom hardware) only major difference being the "in your datacenter" part. Since you own the cost of your datacenter, Oxide has to come in a lot cheaper to even compete with AWS, but how do you do that with low volume [and from the look of it not-cost optimized, but instead fairly tank-like] bespoke hardware? Feels like the pricing / customer fundamentals are going to be pretty rough here outside perhaps a few verticals.