Now, even if we take some specialized tasks that need more CPU (but are niche anyway):
- For image processing, we had Photoshop doing wonders since at least 2000. And with SSDs, we can view and edit 30+ MP images today faster than we could 8K images back in 2000 (and on 4K displays nowadays). We can very much cover all things web and print just fine.
- For video processing, a fast latest box can edit several streams of 4K with live filters. That's beyond what $200,000 professional boxes could do in the early nineties.
- For audio processing, a MacBook Pro i7 can run more audio channels and effects than what the consoles used for Thriller or The Wall had in million dollar professional studios.
We also need to understand the concept of diminishing returns. E.g. It's not like having an NLE rendering time down from 2 hours to 1 minute will enable us to make more movies. It will just save some editing studios and amateurs some time. Other processes involved in movie making (like just setting the lights appropriately for a shoot) trump this "optimization" many times over.
So it's not like people "need" faster processors. It's more like they would be "nice to have".
Now, for things like HPC for research etc, could indeed use faster processors -- but that's an even more niche market.
Don't you think all these machine learning oriented start-up would like more CPU? How about big data platform?
It's very narrow minded to think that the only market is people using their laptop in their home office.
I don't think society would have any serious issues, in fact we might just be better off, without more efficient HFT and big data.
In fact, I'd ask for more regulated and slower-frequency trading, and smarter (rather than "big") data. And especially when it comes to surveillance and consumer behavior analysis (for ads, etc.), the less data those scumbags get, the better.
I've found the opposite. The faster computers get, the more games are all about BS graphics and nice explosions. Back in my day we had real interesting adventure games, now get off my lawn.
You can definitely find examples of earlier voxel renderers that are also more efficient than Minecraft(e.g. Ken Silverman's VOXLAP), but memory limits and networking gaps would remain real and intractable, limiting its potential popularity.
Those don't have much to do with Moore's law though.
Tell that to Google, Microsoft, Amazon, Rackspace and others. HPC powers a large swath of the internet these days.