But local agents will still keep working. Of course they're not as poweful as an acre of industrially cooled compute power, but still a massive improvement over "Intellisense" and code snippets.

You're 100% right though, you shouldn't build your business on top of an AI service and not have a plan what to do _when_ it either goes away or just prices itself out. It's a massive bubble where money is just moving in a circle.