I'm somewhere in the middle on that. People used to think that computers would be owned only by large corporations, then home computers appeared and improved. It's getting tight now that logic scaling is mostly exhausted, at least with current operating principles. Even so, new specialized hardware and model improvements may help (for inference). Training seems to be the biggest problem, it seems hard to democratize.
And that's why Alta Vista still reigns supreme in search.
Yeah. Alta Vista died, and now there aren't any large corporations running search.