Let me emphasize the word “might” in all those capex/opex statements. It’s probably not fair for me to conjecture. To explain:
Ethash primarily relies on bandwidth to memory with only very light computation, but ProgPoW adds a lot of computation, which means both extra silicon (capex) and extra power (opex). Actually it probably adds more to the opex side than the capex side, but I don’t know, so I shouldn’t have said anything. But yes they are using more chip, which means more up-front cost (capex), but there will be a lot more power too (opex). I don’t want to speculate whether one or the other will be better for typical miner lifetimes, only to point out the complexity of calculating economic ASIC-resistance.