> you'd end up consuming so much excess electricity it would be cheaper on net to simply take the money that would have gone to the power bill and spend it on your own datacenter.
Costs spread over a large population, it really doesn't matter. You're not getting hundreds of thousands of people to pitch half their monthly electric bill to pay for someone else's datacenter. They will pay the electricity themselves quite happily though, if all they need to do is give you compute. This isn't new.
Interconnect is the bottleneck for distributed training, nothing else really.