The existing Ampere chips are already massive (see previous STH videos etc), and most of that is because usually each time they double the number of cores, they usually double the number of memory lanes and IO lanes like PCI etc. But that's squashing ever more heat into a tiny (well, not so tiny with these chips) space.
I'm sure there are some good use cases where you might need that many cores on a single chip, like if there are lots of cache dependencies between all the threads, but I suspect the majority of these chips will end up carved up into smaller VMs and it seems to me that a multi-chip solution is probably more optimal for cooling and air flow.
I guess the counter argument is that chips designed using chiplets could still have a reasonable amount of space between each chiplet on the chip to allow each a greater cooling surface area and presenting one flat metal surface for cooling might perform better than several chips that potentially don't lie exactly co-planar.