Earlier quoted context omitted.
Probably not. Most modern ciphers have security bounds measured in solar systems worth of atom-sized supercomputers. Hardware-accelerated attacks on 1024 bit RSA keys (for which no real-world attacks are published) are predicated on custom silicon. A massive, massive improvement in compute might hasten SHA-1's demise, but SHA-1 is already on life support today. It is unlikely that even a huge unexpected leap in compu…
Or in other words, you're only going to get constant factor improvements in asymptotic run times with these chips.
I'm not a cryptographer, but generally when we get to the point where we can envision how a sudden reduction in compute cost could threaten an algorithm or construction, that's when people start freaking out. That's where we're at with SHA1, but I don't know what other building block is in the same position.