This is very optimistic. I see a future where high hardware prices push more and more stuff to the cloud and consumer hardware becomes largely a thin client. Soon doing anything with a computer will require an internet connection because the "local" portion of software will be an electron UI that makes API calls to a server somewhere to do any "serious" work.
Don’t worry - the cycle will reverse again at some point and we’ll go back to more powerful local machines.
Yup. We're going back to time sharing for the majority of people. The terminal will be their dumb phone.
No not going back to a mainframe computing…
I have a T430 that came out 14 years ago that does "serious" work for me. For almost everyone the computers they use are wildly over speced for what they use it for.