There are a few edge models, Spark-X2.5-4B, LFM2.5- in 8b-a1b and 2.6b variants, that are useful for on-device agent-y stuff, but I am doubtful that’s a valuable category. How many iPhone users have never opened Shortcuts in their life? Automating on-phone stuff seems niche.
I don’t expect the economics of local vs cloud ai to change until either the bubble pops or new ai chips land that can run big models fast with low power demand.