I think it worked for EthHash, given the number of GPUs using it. Monero's RandomX also seems succesful, but that has a higher bar (wanting to be CPU only) and

I think it worked for EthHash, given the number of GPUs using it. Monero's RandomX also seems succesful, but that has a higher bar (wanting to be CPU only) and a smaller footprint so ASICs might be easier to hide. As a bonus for KDFs, there is much less economic pressure to 'break' them. So trying to develop ASICs / FPGAs / GPU implementation is pure cost, rather than an investment.