What seems to be happening is that economic Moore's Law is continuing: computation is becoming cheaper, which means that the same amount of money can buy more of it. (This may be on hold post-2020, due to the shortage crisis.) On the other hand, clock speeds aren't being pushed past 4 GHz because (a) thermal issues become severe, and (b) there is no real industrial need--single-threaded programs can already do millions of things in time we consider imperceptible, so slow computation is usually a software or network problem in the first place.

In theory, this could be a good thing, because parallel and concurrent computing are hard and something has to flush out the mediocre programmers (the ones who put with Agile Scrum and Jira) who've flooded the market. In practice, though, it seems to be pushing society in the wrong direction. Just as regular people don't benefit from low or negative interest rates (since they'll still pay high interest on personal loans), regular people aren't going to be able to set up a cluster on AWS--or even know why they might want to. The result, then, of the move toward cloud computing seems to be worsening, not improvement, of the power imbalance between capital and labor.

In the long long run, we're still seeing technical advances, which are cause for hope. In the short term, though, the picture is ugly because the technical gains are mostly going to the few who have the capital necessary to profit from them.