Nobody here disagrees with this premise. I just disagree that "low cost of compute" changes the fact that functions like Argon2 can be tuned to become more expensive to crack based on changes in computation cost. If you're worried about someone spinning up something on AWS to crack hashes, bump up the memory and CPU hardness and now they'll have to spend much more money to crack your passwords. In addition, the design of most modern password hashing functions is such that you get poor parallelism on GPUs.