Of course training something like a 1T LLM will probably take some time :-P but with enough people contributing it might be possible to train something small - and if the project reaches consensus, it might be adopted by some institutions with a bit more available compute power too (e.g. universities).
If i had a second PC (i don't really trust the project right now to put their auto-updating client on my main PC - maybe if it grows and there are more people behind it or there is some better governance than "trust me bro" i'd put it in a container or something) with some GPU power i might have contributed a bit too since i like the idea.
The Chinese open-source models (which are 1-2 generations behind the frontier) cost in the low tens of millions to train. This is largely because of a lack of compute. They achieve comparable performance to frontier models via distillation.