In bitcoins case the incentives are such that it’s power consumption that’s essentially being measured. Now let’s say that someone would make a chip that would

In bitcoins case the incentives are such that it’s power consumption that’s essentially being measured. Now let’s say that someone would make a chip that would use only 10% of the power of the current ones. What do you think would happen: People would keep current hashrates and just consume 10% of energy. Or: People would scramble to get these chips and keep on burning the same amount. As your rewards are basically due to your ratio of the total hashrate. Not any absolute amount.