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You make some valid points. I'm not a millennial, but thanks for including me. :)
I thought computers had peaked for awhile too, and then I built a new one last year so I could run Cyberpunk 2077 on ultra. The new NVMe drives are an enormous leap forward. Mine runs at 650% faster than my previous fastest SSD. They're flat-out amazing. Graphics computation is also unbelievable these days. DDR5 is wicked fast. Basically I don't think computer hardware is anywhere close to peaked. It's still doubling in power every few years.
Yes, I went from a SATA 3 SSD to an m.2 NVMe drive and the difference was incredible. I also went from DDR3 to DDR5, so that was obviously mind blowing. TBH I'm fine with computers capping out, since I just built the most powerful computer I've ever built, and got all cutting edge, top tier components, except for the GFX card. The GFX cards were still insanely priced when I built this thing, so I had planned on continuing to use my 980 ti. But it felt like putting an old engine in a new car, so I eventually broke down and bought a Gigabyte AORUS GeForce RTX 3070 Ti 8GB. The 3080's and 3090's were almost unobtainable when I built this thing. Now the 4090's are out, but I don't see myself upgrading any time soon. I'll probably just skip the 4 series. What's really crazy is the cost of the cutting edge stuff. I paid $320 for my RAM and you can get the same RAM for $99 now. I paid $240 for my NVMe HDD, and you can get it for $99. Of course I knew that the prices would plummet, but since I figured this will probably be my last full computer build for a long time, I might as well get all the best stuff available.