>Of the things you mention, my _guess_ would be that only energy prices are a significant factor stopping AWS pricing from following Moore's law.

Ah, but this is subject to Moore's Law too: As transistor density increases, performance per watt goes up (well, this requires Dennard Scaling also). Hence, as Moore's Law advances, the power costs go down (at constant performance).

Your guess about network costs are correct, their prices have a half-life of 9 months: https://en.wikipedia.org/wiki/Moore%27s_law#Other_formulatio...