I'm not convinced this is true and not just a popular argument.
Just today I've processed 4 TB of JSON data, in Python, on a desktop computer. That would be crazy to imagine 10 years ago. Yes, many cores, fast SSD, etc. Maybe it should be 20 TB if ultra optimized, but the capability advance is incredible.
Yes, apps maybe start slowly, but now everybody can easily edit HD video on their mid-range laptop.