Moore's Law depends on continued demand growth for integrated circuits. So calling it a constrained resource is backwards, even if it can behave that way in the short term.
Moore's Law isn't a physical law of the universe, it's an observation of what is ultimately a short window of progress extrapolated into a guiding principle. More like an aspirational metronome than a "law" per se. And some observers have claimed that it's no longer bearing out
Right, it is a consequence of continued demand. As demand for ICs grew, increasing investments into fabrication technology allowed Moore’s Law to continue. As demand stops growing, Moore’s Law slows. It’s a socio/techno/economic phenomenon.
