There is a very good reason computing power is the bottleneck and it is because of how the weather has to be modeled. Weather models simulate the conditions in the cells of a lattice that is overlaid over geographic areas. To improve accuracy, the cells need to be shrunk to smaller sizes as they have been for a long time. However, every time the size of the cells in the lattices are halved you need 8 times the computing power to perform the calculations of the 3D space. Because of Moore's Law, it takes many years for it to make sense for weather centers to upgrade their infrastructure and see significant improvements in their predictions.