Thank you for the elucidation of the M1. It is odd that chip manufacturers are moving more and more to ASIC approaches again. I do fear they will be less flexible than traditional ISAs. However, GPUs started out as custom silicon, and they have been very useful.
I'm guessing that eventually, Azure and Google Cloud put enough pressure on AWS that the whole elastic solution situation is affordable enough that people stop skimping on affordable hosting.
At the moment, there's a fair amount of pennywise/poundfoolish behavior because of crazy high cloud egress costs.
There's a huge pricing chasm between, for example, a cheap Digital Ocean non-elastic hosting solution and AWS. Digital Ocean, though, is moving closer to an actual cloud, and the big 3 seem to be starting to compete on price.