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Currently devices have Thunderbolt 3 (up to 40 Gbps), I'm wondering if PCIe 4.0 will increase that. I assume it would be called Thunderbolt 4, and I assume it will be faster.

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Increase it how? That's like asking if faster ethernet is going to increase thunderbolt speed. No, it's a totally different way of sending data over wires.

A theoretical Thunderbolt 4 that's twice as fast could easily be fed with a PCIe 3 connection. It could even be fed with a PCIe 2 connection!

Huh, thanks.

I had always thought Thunderbolt was essentially "external PCIe".

Personally I would prefer Thunderbolt 3 to get cheaper instead of a new generation that stays expensive. Who needs 80 Gbps Thunderbolt 4 now and why?

External GPUs and Asics. Also, this is a connection that can be shared and the more is probably the better since we all probably have notebooks and they all gonna not have most ports we need.

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