In a decade the cost of compute will be a tiny fraction of what it costs now. Specialized hardware will exist that will be cheap and efficient.
We might see a one time bump in inference when we move off GPUs onto more limited and efficient dedicated hardware, but the sustained fast pace of improvements are far behind us.
But if progress begins to slow down, then the economics work. Maybe Gemma 4 is a good example. It feels really generally useful. Getting it at 1/10th the cost feels like it could be competitive in 2 years.
It’s just that the pace of new stuff is slowing down, and many people are operating under the assumption that this wave will ride on forever.