Hobbyist equipment is still relatively cheap. You can get previous-gen hardware for formerly current-gen prices, you can run lots of “hobbyist” software on low RAM and no GPU.
It’s bad, but it’s not “literally own nothing”.
The second hand market is going to have much much more lag. But it's very unclear that this is going to sustain indefinitely.
Yeah, I'm not sure that fewer people will own computers, I do think people will shift to much longer upgrade cycles.