Earlier quoted context omitted.
If the demand lasts for a few years, I’m doubtful that all of the consumer capacity will come back.
Consumer demand likely depends on how local models end up working out. Nothing else really needs serious local computing power anymore. My guess is that even high-end games will probably stagnate for a while. Many users will not want to risk their privacy, data, and workflow on someone else's rapidly-enshittifying AI cloud model. Right now we don't have much choice, but there are signs of progress.
How "Many users" though?
I would argue that the segment of the market whose purchases incentivize personal responsibility on their PCs is outweighed by the segment of the market blowing their disposable income on tablets and smartphones who just want things to work and want whatever they see other people using on social media.
We both know which segment of the market the large companies want to win that battle. They want to sell rented compute resources through nothing but impossible-to-locally-administrate devices where every sensor spies on you and it's impossible to store any data or documents locally, let alone privately.
Even One Drive is pushing hard to literally erase your hard drive and only host your documents on their servers.