Micron is exiting this business because it’s a commodity. It’s everywhere. There are numerous companies producing parts in this space. Their investments are better spent on other things.
> I wonder if it's possible even for a company to make even 1980s-era electronics without massive capital expenditures? How feasible is it for a small company to manufacture the equivalent of a Motorola 68000 or Intel 386?
I don’t know what your threshold is for massive capital expenditure, but you could get a tapeout for a 68000 clone easier than at any point in history. There are now even takeout services that will let you get a little piece of a shared wafer for experimenting with making your own chips for very low prices. There are even accessible tools available now.
The hobby and small scale situation is better now than at any point in history. I don’t know how anyone can be sad about it unless they’re ignoring reality and only speculating based on the most cynical online takes about how the future is going to do a complete 180.