You mention that training can be suspended, which is true, but don't acknowledge that puts them behind in the arms race against both other frontier companies as well as second line cheaper providers.

Without a moat, training is an ongoing cost that they can't afford to not pay

Imagine if Apple decided to "stop developing new iPhones". That's what "stop training" sounds like.

They'll stop training when they're dead, not before.

Training is not infrastructure. It’s not capex, not “investment”. It’s a running cost.