Unless you have access to AM books, as well as those of other ASIC manufacturers, you are not in a position to say anything meaningful of AM costs, or the amount of stock AM has compared to its competitors. This, again, seems self-evident. Feel free to drop some numbers.
Regarding AM being "well positioned for this environment." When the gold rush is over, you're right to say that only the bad-assiest shovel merchants will survive. But even allowing that AM is, in fact, the biggest baddest shovel merchant, concluding that vanishing profit margins is actually a good thing (because it would hurt other merchants more, possibly driving them out of business)... That's a bit of a stretch, no?
I don't think it's that much of a stretch. I don't have accurate numbers but do a lot of reading around here and this is my best guess. Do you know of many companies with in hand hardware that is currently shipping anything better or cheaper than AM? Where would you buy hardware right now if you were going to? Of course vanishing profit margins are never a good thing but you can be relatively better or worse positioned at the time compared to the competition. Pre-orders will be slaughtered.