Think about it like this: Imagine the AI/Cloud/Crypto companies who are buying up all these compute and storage resources realize they now control the compute hardware market becoming compute lords. What happens when joe/jane six pack or company xyz needs a new PC or two thousand but cant afford them due to the supply crunch? Once the compute lords realize they control the compute supply they will move to rent you their compute trapping users in a walled garden. And the users wont care because they aren't computer enthusiasts like many of us here. They only need a tool that works. They *do not* care about the details.
They hardware lords could further this by building proprietary hardware in collusion with the vendors they have exclusivity with to build weaker terminal devices with just enough local ram and storage to connect to a remote compute cluster. Hardware shortage solved!
All they need to do is collude with the hardware makers with circular contracts to keep buying hardware in "anticipation of the AI driven cloud compute boom." The hardware demand cycle is kept up and consumers are purposefully kept out of the market to push people into walled gardens.
This is unsustainable of course and will eventually fall over but it could tie up computing resources for well over a decade as compute lords dry up the consumer hardware market pushing people to use their hoarded compute resources instead of owning your own. We are in a period where computing serfdom could be a likely outcome that could cause a lot of damage to freedom of use and hardware availability and the future ability to use the internet freely.