Hopefully competitive forces will sort that out. There will be an incentive for price per 'equivalent compute unit' to be lowered as the underlying infrastructure costs decrease.
I think the competitive forces will have some bearing here, although gas prices are an example of something which gets regulatory barriers put in place of expansion (you can't easily get approval to build a refinery). Given the 'cyber war' type mentality I am keeping a close eye on the regulatory environment growing up around providing 'cloud' services, be they compute, storage, or web front ends.
