>In this case the limitation is the compute.

I agree with most of your points, but computation can be transferred from a place where energy is cheap to a place that is expensive. Energy for cooking cannot be transferred that way.

See for example Amazon-Google datacenters in the Gulf region. We've also got a whole continent, Australia, to put as many solar panels as we desire. Australia got dark for half a day, every day? Put solar panels to the opposite side of the planet.

Energy is a concern, for cooking, transportation etc. Energy for computation is not.