Your memory is faulty.
Let's take a trip back to 1992.
In 1992, unless you were rich you had a $2,000 386SX-33 sourced from parts out of the back of Computer Shopper magazine.
Here is a 386SX-33 running Windows 3.1 (1992) launching WordPerfect for Windows 5.2 (1992) a perfect representation of what a normal, typical, average person in 1992 would have as a PC: https://www.youtube.com/watch?v=pYjrX2P4iY4
WordPerfect takes 45 seconds just to start. You dropped $350 on an ATI Wonder that has hardware acceleration of Windows 3.1 video calls just to get smooth window moving and resizing.
What about a 486? Lol you didn't have a 486, those were for CAD workstations and servers. You had a 386.
Three years later, lusting after Windows 95 and frustrated with slow performance, you shell out ANOTHER $2,000 on a Pentium 75 with 8MB of ram and a 528MB hard drive.
Sure, with the lower FSB that means you're less than half the performance of a Pentium 133 despite having 56% the clock, but you're a regular person with regular person money.
Windows 95 takes over a minute to boot, Space Cadet Pinball takes 15 seconds to launch, and you buy City Streets for Windows which takes 3-5 seconds to redraw its viewport every single time you reposition the map.
From the day you could first afford a PC you chased upgrades: more ram, a hard drive with a higher rotational speed and bigger cache, holy crap they can do 3d in hardware now, can I afford a 256kB COAST module?
Then one day, in about 2011-2012 that all stops. Sandy Bridge. SSDs. Now you only upgrade every 4-6 years: when performance doubles or windows stops supporting your CPU or you drop your laptop and break it.