That is a great point... but I think what's going to happen is that eventually Hive will become so prohibitively expensive that users will start buying RCs directly without even owning any Hive Power. Anyone with HP will be able to farm on-chain bandwidth and sell it to the peasants directly. Hive is the original DeFi network and we aren't slowing down anytime soon. Anyone here today is in the top 1% of the top 1% in this respect.
The numbers don't really add up any other way. First it costs $2 to transact, then $20, then $200, then $2000, then $20k. At a certain point buying HP directly will be too expensive even with only a couple million daily users.