One has to be careful to realize that there's nothing magic about nanotech. Indeed in the limiting factor nanotech
is just individual atoms and molecules interacting mechanically and chemically and that is what we call
chemistry, electronics, and mechanics.
You can't necessarily do something more efficiently with a small machine than you can do with a big machine or
big industrial plant, in fact usually the reverse. Basic atoms and molecules already can store more energy
chemically and magnetically or so on as you could hope to imbue a nanite with, after all it is just made of a
collection of ordinary atoms / molecules. There are only approximately 92 atomic elements in nature, and many
of those aren't really available / usable / interesting for engineering, so just assembling them into smaller
machines just gets you ... smaller machines.
The great benefits of nanites could be things like self-assembly / self replication, or at least easy mass production in
specialized factories. Self energization is effectively equivalent to either "eating" or photosynthesis. Photosynthesis
or quantum photovoltaics is a great nanotechnology because it is very efficient and uses sustainable solar energy .
"eating" for energy is great if you have the fuel in your environment, but it isn't as if they can alchemically magically
convert lead to gold or rock into gasoline. You could have them biologically or chemically do the same kinds of things
a particular life form or chemical plant could do, but you couldn't do "more" than what something like an ant, algae,
bacteria, or whatever can already do. It is hard to out-engineer 4 billion years of evolutionary development on a
planetary scale.
However nanotechnology doesn't imply self replication / self assembly, nor self recharging, nor any particular chemical
or electronic prowess that isn't already available to us in bulk form. It would be "nice" if these were available, but it is
a somewhat independent thing than nanotechnology itself in all generality.
One benefit of nanites, though, might be to be able to be more dynamic, finer grained, intelligent about the solution
to a problem. It wouldn't be impossible to have them go out and look for JUST a cancer or blood clot before they
try to take it apart in what would effectively be a conventional (but miniaturized) chemical/mechanical process.
It would be easier for a room full of leprechauns to make a swiss watch or a ship in a bottle than a room full of
basketball players / sumo westlers just because the small size does give an advantage in delicacy and finesse.
If I wanted to build the great pyramid, though, I'd expect a giant machine to work as well or better than a set of small
ones.