People don't have stable or seasonal "token needs" or wants.

Nor do they have stable don't-give-me-any-better "answer quality" expectations from models. At least not yet.

AI model services don't have any version of the typical utility's geographical market protection or monopoly.

Worse, they have all been funded for massive loss-leader hyper growth, so to survive in the short term, they have to compete on who can raise and lose more.

Then looking into the long term, unlike the Uber's of the world, the point where a market will reach saturation, survivors finally "win", and margins can transition from negative to positive, keeps moving away.

I don't see any way in which utility bills are economically comparable to this situation.

The only "hope" the general AI service business has, is that at some point one of them pulls far enough ahead of the others that everyone else's economics collapse first.

Like a very high speed version of the centralization in advanced chip fabs. But with no profitability until the centralization happens. Brutal.