From their charts, o3 mini outperforms o1 using less energy. I don’t see the diminishing returns you’re talking about. Improvement outpacing cost. By your logic, perhaps the very definition of progress?

You can also use the full o3 model, consume insane power, and get insane results. Sure, it will probably take longer to drive down those costs.

You’re welcome to bet against them succeeding at that. I won’t be.