The top 1% consumer in the world is basically comfortable at this point. There isnt really a consumerist way of making their lives better. Like you can sell more high quality stuff beyond the top 1% by making it cheaper through process improvements, but its not necessarily tech advancement.

That's never what held back capitalist expansion, the direction of economic surplus towards the luxury of a tiny minority is a defining trait of feudal production that capitalism substantially reduced. It only played a role in technological progress back at a point when meaningful advancement was still achievable by kind of resources and directed effort of the eccentric and idle rich pursuing experimentation.

The stagnation we have isn't a result of a lack of possible gadgets for the 1%, it's us pressing more and more often against the boundary of what research can be incentivized by the profit motive. Capitalist technological innovation has always been primarily about process improvements and expansion to/creation of new markets, with resources only directed where capital returns are reasonably expected; any scientific discovery is purely incidental. There's also the fact that most scientific advancement within capitalism has been state-backed, and neoliberalism has eroded the institutions involved.