In the long arc of computing history, the pattern pursued by firms like Rabbit and Humane is common: they’re selling terminals or thin clients, because it’s cheaper to time share the upstream computing resources
Historically, as miniaturization and efficiency continue, time sharing and terminals would give way to dedicated, affordable, local resources
Except this chapter in human history presents serious disincentive to that pattern
You could even view web based SaaS as a quiet reversion