Yep, I agree. The only 'frontier' any of the big labs are racing towards is the frontier of financial ruin.
Well there certainly is at least some kind of viable business running large AI models for a fee.
These are useful and too big to run locally.
The ultimate size of that business in terms of revenues and profits may not match current expectations, but it's also not 0
I think we're going to suddenly see them greatly scale back training and try to sell inference-only, but they all know when they do that someone can jump up and outstrip them.