That's true for the GPUs themselves, but the data centers with their electricity infrastructure and cooling and suchlike won't become obsolete nearly as quickly.
I guess another example of the same thing is power generation capacity, although this comes online so much more slowly I'm not sure the dynamics would work in the same way.
It's hugely expensive, which is why the big cloud infrastructure companies have spent so much on optimizing every detail they can.
To give a different example, right now, some of the most prized sites for renewable energy are former coal plant sites, because they already have big fat transmission lines ready to go. Yesterday's industrial parks are now today's gentrifying urban districts, and so on.
Evnn moreso for carrier lines of course. Nimbyism is a strong block on right-of-way needs (except the undersea ones obviously).