i was little and didn't know shit, but i was already learning to program, and i think about this all the time. like mind blown, every day. 8 threads and 2GB of ram in my cheap ass phone? crazy! and we got so good at writing compilers they give them away for free!
JS was way slow because MSIE wasn't supposed to compete with desktop apps :p also, transpilation, JIT, virtualization and containers seem like a pretty big deal to me -- virtualization was academic in the 90's.
also, a lot of that "old" stuff like python and ruby and even C++ really weren't as mature and feature-full. memory safety/auto-management and concurrency language features are prevalent now, and i think people don't always appreciate (or remember?) when your computer couldn't walk and chew gum at the same time.
it seems to me like our tools have clearly improved -- i think a more useful conversation could investigate how to apply what we now have to improving productivity, safety and security.