I don't think it's a pipe dream from an 'amount of compute' perspective.
Any competent person can simulate 100 atoms in a crystal of some material, and say "whoa, it seems the bulk of this material behaves like a spring with f=kx, lets replace the individual atom simulation with a bulk simulation which is computationally far cheaper", and then we can simulate trillions of atoms.
I don't see why AI couldn't do the same.