What looks like exponential curves turn into S-shaped curves everywhere. In the last century, coal power plants have gotten less than twice as efficient. A professor at law school was giving a lecture on technological singularity back in 2011. And I pointed out that Moore’s law was already dead. And in fact in the decade since then improvements came far slower than they did from 1990-2000.
It’s better now by roughly a factor of two per passenger mile.
The nature of such large improvements is that it’s extremely hard to get such an improvement again!
Which is just not that big of a deal for 50+ years of technological development. It doesn't allow you to do anything you couldn't do before.
It allows you to move freight really fast at half the cost. That's a lot of things that can move around the world 100X faster than they could on the next-fastest available mode: ships and trains.
That's leaving out fuel prices. The planes may use half the fuel, but aviation fuel has increased 7x in price since 1990. I couldn't find prices for 1969, but if you take the price of crude since then you're looking at a CPI-adjusted increase close to 100x.
Of course, inflation should be canceled out before evaluating the overall benefit. If you can self the goods for 7X then the fuel savings is back to 2X.