> That's my point, the software was getting bloated at least as fast as the CPUs were getting faster

I think there's a difference between bloat and actually useful features or performance.

For example, I started making music with computers in the early 90s. They were only powerful enough to control external equipment like synthesizers.

Nowadays, I can do everything I could do with all that equipment on an iPad! I would not call that bloat.

On the other hand, comparing MS Teams to say ICQ, yeah, a lot of that is bloat.