Re: Dead right.
This.
Moore's law not only kept making* computers more powerful, it also gave rise to a sort-of Anti-Moore's law which kept making software ever shittier and buggier, such that the combined computational effort to do a task has remained somewhat constant.
In the olden days of 56k, you waited a bit for the HTML to load. In the modern days, you have to wait a bit for the shitty surveillance creep-ware to finish spying before letting you read the news or watch kitties on the internets.
* I know, that this is quite a primitive interpretation of Moore's law, and I know that Moore's law isn't a law at all.