What you need is for the interfaces people use to not be vendor-locked. At which point Nvidia doesn't have to "fail" in the sense of going out of business, but rather just have the ecosystem switch to APIs that are supported by not just them but also AMD, Intel, Apple, Qualcomm, etc.

At which point customers are buying for hardware price/performance or performance/watt rather than because they care which vendor they're getting it from.

And then you'd still have the biggest companies making the highest performance hardware, but you could also get something from the RISC-V people which had e.g. half or a quarter the performance of the enterprise GPUs but the same amount of VRAM, for less money.

This is the sort of self defeating mentality that creates evil monopolies. I used to read gamers berate AMD for their "driver problems" when their drivers simply couldn't emulate Nvidia's intentional tricks to force game developers to build for NV cards. And then they would moan when card prices skyrocketed. Don't know why you think AMD is "crummy" their greatest sin is that they didn't play these anti-competetive games and were screwed by other companies.

People seemed to be programmed to be sycophants or at least willing victims to rich and powerful people and companies, even as they royally screw them and empty their pockets. I never understood it. As the song goes: we'd make great pets.

The barriers to entry are not capital costs they are compatibility moats. Wake up and smell the coffee.