It would be something of a full circle I feel went back to dedicated circuits for NNs - that's how they began life when Rosenblatt built his Perceptron.

I remember reading a review on the history in grad school (can't remember the paper) where the author stated that one of the initial interests in NNs by the military was their distributed nature. Even back then, people realized you could remove a neuron or break a connection and they would still work (and even today, dropout is a way of regularizing the network). The thinking was that being able to build a computer or automated device that could be damaged (radiation flipping bits, an impact destroying part of the circuit, etc) and still work would be an advantage given the perceived inevitably of nuclear war.

Compared to a normal von Neumann machine which is very fault intolerant - remove the CPU and no processing, no memory=no useful calculation, etc. One reason people may have avoided further attempts at physical neural networks is it's intrinsically more complex than von Neumann, since now your processing and memory is intertwined (the NN is the processor and the program and the memory at the same time).