Could a mining farm of this size be enough to create a 51% attack or is there really that much hashpower that this is nothing? Mind you I haven't really checked bitcoins current overall hashrate
Not enough power for them alone to create a 51% attack. They would need to partner with other farms to do so.
The incentives for someone carrying out a 51% attack are simply not there. In order for someone to potentially have the hashpower to be able to carry out such an attack, they would need to invest in machines that can, for all intensive purposes, only mine bitcoin, these machines would be able to mine at least 1800 bitcoin per day (roughly $900,000 worth at current prices). If someone were to attempt to carry out such an attack, any bitcoin they have mined, but not sold would likely substantially decline in value, and the value of their equipment would also become essentially worthless, not the mention the lost potential revenue from continuing to mine in an honest fashion.
that is the weakest argument i've ever heard to explain human behavior.
you re presupposing that the miner would be a single person, and you delete from your equation a number of other vectors.
plus as i stated in my "oracle investment advice" the Cap is irrelevant, its the forward progression of time in the equation, the use/collapse Paradox was only one paradox.
what about the Time/Value Paradox ?
goes kind of like this:
If the original monopoly wants to hold a "high value " they have to do that as time progresses forward, this "time" allows for the market to effect it as competitors have based the cost on the "value"; however the longer in "time" the monopoly holds the "value" the more chance the market has to act.
if the monopoly is broken, a stand off ensues, this is where underline "cost" becomes a very large factor.
i.e you could see this situations where Samsung forced Apple's hand.
Apple Sued Samsung for this or that retarded reason, Samsung paid up then increased the price of the Processors that Apple purchased from Samsung, and compensated themselves.
If one Manufactured ASIC chips, who has a better cost ratio?
so how do you know that the Chips you are sold aren't compensating directly for the cost of the mining? in other words Welcome to the real free market, welcome to real economics. 
