Unclear if it's the only cause but wafer scale is great for very low latency, but loses to throughput per dollar compared to classic Nvidia like GPUs. I don't think they can reduce the gap, SRAM is just more expensive than HBM and their architecture needs a lot of it.

So, the price makes it necessarily niche to some specific use-cases like HFT or intelligent duplex voice assistants, I'm still semi-bullish personally.