People vastly under estimate how hard it is and how much time and money it takes develop anything that doesn't already exist in a dozen places in a given permitting jurisdiction.

You want to build another cookie cutter McMansion, pay through the hoops, break dirt at 6mo and be done in a year.

You want to build a an X over Y apartment building across the street from the other one, pay through the hoops, break dirt at 2yr, be done in 3yr.

You want to build the first X over Y pods and bugs apartment in a given jurisdiction you will be stuck in permitting hell paying through hoop after hoop after hoop, sometimes the same hoop more than once, for 3-5yr right off the bat while the system fights with you.

You can't imagine how terrible anything industrial is. The system is basically only set up to be able to easily approve housing and retail and "easy" still takes years. The amount of money it takes to get something popular approved is insane never mind how much something unpopular like a data center would cost.

Of course every party is playing fast and loose with terminology and capacity. Investors like "we have <big number> and we're adding even more" capacity much more than "we already had <big number> and we've only added <small number> but god willing we'll have <really huge number> in 5yr if we don't go bankrupt first"