I feel like the application of “the market wants alternatives to Nvidia” to networking could turn out similarly to how “people want a physical keyboard” turned out in smartphones.
In the networking market, Nvidia is the underdog. Anyone who wants alternatives there is going to Nvidia, not away from Nvidia. We will see how the market develops, but I do not think widely stated remarks about Nvidia in AI training apply to Nvidia in networking.
Let's see how things evolve, but it is very clear that the market wants alternatives to Nvidia.