I more than agree on the value, but not on the price. There's currently a competitive market, including free models that are pretty impressive if not "frontier".
I don't think LLM inference is ever going to stop being a competitive market, though. Unless regulation or other factors make the existing players form a cartel.
I think it's pretty safe to say that, unless the government steps in to prevent it, they will form a cartel or some sort of oligopoly. The incentives for them to do so are very high.
We're also one high profile cyber attack, possibly false flag, from the government granting that cartel.
Regulation wouldn't solve the problem, but many frightened people would be in favor of it anyway.