I think it's more than likely to be developed by "parties" who have a large budget to spend on cryptographic equipment, like governments, and who don't necessarily factor the costs in the same way.
At that point you have the world mining with GPUs and governments/secret agencies being able to "outrun" the general public.
Repeated forks every couple of months would kill asic development, even a government with an unlimited budget for 'defence' would not be able to keep up?!
(after all, they can't even finish their own military projects that always go over budget, take years and don't work )