> the pool of available CPU/Memory resources is effectively unlimited.

This isn't true. Every CPU you use is sitting in a physical server somewhere. Every server is sitting in a rack in a building that's sitting on land that used to be nature. It's using electricity that could be used instead for cooling or heating a person or just not generated at all. It's cooled using fresh water that is needed by every living thing and is in short supply in many places.

The idea that compute is unlimited is a horrible myth that cloud companies have sold which has effects and externalities that will be seen as on par with the myth of unlimited fossil fuels.