Maybe. But if we can all run our own model locally in 2 years on commodity hardware OpenAI and Anthropic will start to look like WeWork during the pandemic
This is also why the money being poured into datacenters isn't going to result in as much development as you think. It's about leveraging other people's money to lockdown more future hardware. This is going to end exactly like fiber build out in the 2000s. Eventually that fiber got used but the folks who originally paid for it got hosed.