PC prices will be heated up by demand for hardware to run local models. There will always be more advanced models requiring more advanced hardware, or at least for a good while. First it'll need better hardware to perfect the text generation, then to improve image generation, then to improve video generation, then to make flawless code in large projects like games, etc. etc.

At the very least, GPUs and RAM will probably stay overly expensive for a while.

Maybe not a mobile device, but running decent local models is definitely within reach for the average consumer today by simply adding a GPU with lots of VRAM to their existing PC.