Will they do it at utility / commodity prices though, or the inflated costs we see now?

That's a good question.

I think there's an assumption that current costs, which are high, will remain high.

Most of that seems to be going to model development, rather than model operation, which is the product we all use.

To me the most likely option will be, that development slows and prices rise somewhat, as they can't keep burning cash forever. But I'm willing to pay a little bit more, considering how powerful the tool is.