Your conclusion that "... in order to get faster chips, you have to use bigger dies, fancier packaging, more cooling, more power.", is really not supported by the ending of Moore's law.
Moore's law is the observation that the number of transistors in an integrated circuit (IC) doubles about every two years, with minimal increase in cost.
In any case, hardware progress has slowed to a crawl. Maybe a new console every 10 years makes sense now.