I don't think graphics devs changing over would change much. They would probably not lament over 16ms, but they would quickly learn that performance does not matter much in application development, and start building their own abstraction layer cake.

It's not even that performance is unimportant in absolute terms, but rather that the general state of software is so abysmal that performance is the least of your problems as a user, so you're not going to get excited over it.