If you don't own the customer relationship, you don't own the profit. See App store, FB.

NVidia is delivering commodity hardware to the hyperscalers, and would eventually get commodity margins (when hyperscalers make their models work on their own hardware).

Amazing article on relevant economics of squeezing vendors - actually about antitrust ad-models but:

  The answer is that [advertising based] companies are an ideal test case for an increasingly common business meta-model, where companies try to create a consumer surplus at one end in order to maximize their negotiating leverage for capturing the producer surplus everywhere else in their supply chain.

Perhaps not relevant to huggingface, sorry.