Many server applications charge licensing on an annually on a "Per Core" basis. This cost so totally and completely eclipses the server hardware cost to the extent that it becomes flat out stupid not to buy the best server chip money can buy.Overpriced Epyc? They are selling in droves. Clearly people think they are worth the money.
This is also why I feel that Intel's loss of SMT is a much bigger deal in DC than people understand. Sure, they are able to put lots of little cores on a die that do pretty well against AMD's Zen 5 in single thread, but once you throw MT at it, Zen 5 gets a 40% boost that Skymont doesn't.
If AMD continues to boost performance in DC applications (and Zen 6 appears ready to do exactly that), I think it is an excellent financially driven architectural decision.
The N2 versions of Zen 6 that will be used in EPYC will likely up the core count (double is my guess). The clock speeds may well be limited by the 1KW rumored per-socket power limit for the new EPYC's in 2026.
What might be interesting is Clearwater Forest with its Darkmont cores on 18A up against EPYC D Zen 6c on N2. I am guessing that software licensing isn't an issue in this market (or a less powerful "c" Zen vs full Zen wouldn't make sense).