All true, Jon.
But realize what you're saying:
Chip manufacture is expensive because chip manufacture is expensive.
I'm asking: look beyond the tautological. What if there /were/ no masks? What if the layers were as cheap to print as PCB films? What then?
The earliest ICs didn't have ion implants. They didn't have polysilicon. They didn't have oxide*. They barely had a metal layer. We don't need
30nm, 8+ metal layer construction, just to make something that works. That's absurd!*Gate oxide I mean. (Also, I forget if they used aluminum or degenerate-doped poly layers. Shame on me.)
Think big. Real big. Microns. Tens of microns, even. You can make a MOSFET as large as you want, as long as you don't mind its resistance being constant (same resistance/sq) and the transit time being proportionally higher.
Crappen up the material, too. (Is that a word? Doubt it. It could be.) Use poly-Si instead of single crystals! Performance is about two orders of magnitude worse, but so what? We don't need GHz for everything.
Yes, lots of cool things! Just imagine all the things people could come up with, if they had near-consumer-grade access to a worse, but still useful, process!
One can easily imagine how many piles of absolute garbage people will cook up, too, but there's no cost in that, not to anyone but themselves. There's no scarcity of resource. No need to think a "bad" design is somehow costing everyone else's time and money. Think 3D printing.
For God's sakes, people would make completely nonfunctional grids and patterns, just because they look cool! (Hey, printable diffraction gratings and holograms, why not?) What's wrong with that?
Tim