I don't agree with the "full cynicism" POV, but I do agree that TechnoChina's existence is a potential paradigm shifter.

But generally speaking, AI is currently pretty competitive and robust. Straightforward business model where users pay money and select the best deal are central. Market power is relatively dispersed.

So... Idk. Nvidia doesn't have competition. But Intel didn't have much competition either, and they drive the Moore's law bus for a long time.

Hardware has been less prone to enshitification. Maybe it's because the demand curve for compute doesn't have natural limits. Drive down price, and demand grows by enough that the total market grows.