The trend seems to be that we get only a little bit of extra utility out of a lot of extra hardware performance.
When the developer upgrades their PC it's easier for them to not notice performance issues. This creates the situation where every few years you need to buy a new PC to do the things you always did.
I'm not sure if that's the case, but it may be we aren't looking for utility in the right places.
Another reason is upgrades to software, which maintain general bloat, and which is hard to control; new hardware is easier. That's however is very noticeable.
On top of that, just "better" hardware - say, in a decade one can have significantly better screen, more cores and memory, faster storage; makes easier for large software tasks (video transcoding, big rebuilds of whole toolchains and apps, compute-hungry apps like ML...)
This is a frustrating part of recent laptops, but it doesn't have to be this way - my X230's keyboard is removable with a few screws.
"hardware giveth, and software taketh away"
Andy Grove and Bill gates
I have two points to comment on this matter.
Point 1: The only reason I would worry or be concerned about it is if we are using terribly-inefficient programming languages. There are languages (that need not be named) which are either 3x, 4x, 5x, 10x, or even 40x more inefficient than a language that has a performant JIT, or that targets native code. (Even JIT languages like JavaScript as still a lot less efficient because of dynamic typing. Also, in some popular complied-to-native languages, programmers tend to less efficient data structures, which results in lower performance as well.)
Point 2: If the inefficiency arises out of more actual computation being done, that's a different story, and I AM TOTALLY A-OK with it. For instance, if Adobe Creative Suite uses a lot more CPU (and GPU) in general even though it's written in C++, that is likely because it's providing more functionality. I think even a 10% improvement in overall user experience and general functionality is worth increased computation. (For example, using ML to augment everything is wonderful, and we should be happy to expend more processing power for it.)