I want to upgrade (held off while buying a house and moving/renovating) now I finally can...I realised the only game I play a lot isn't even capped by my current hardware so there just is no incentive to upgrade.
Decades ago I did similar things, but the cadence was much faster (annual sometimes); my conclusion, like that of many others, is that PCs are usable for much longer these days. A net positive I believe.
100% this. If my motherboard hadn't started to slowly fail (been running on the backup BIOS for the past year), I'd still use my 2013 Xeon system. It's still fast enough for daily use and as long as I'm not recompiling large codebases, it's still fine today.
I plan on using my new rig for at least 6 to 8 years as well. The times when CPU performance literally doubled every other year are simply over. For the average user, literally any mainstream CPU released in the past 5 to 8 years will actually do just fine (stuff like high-end gaming and video editing aside).