Have you ever heard of the anarchy of fuel in regards to space travel?
In order to get to space, a rocket needs fuel to get its weight off the ground. But fuel adds weight, so in order to get the fuel off the ground you need more fuel, and in order to carry that fuel you need even more fuel, etc etc.
Video Games are kind of the same way, except replace weight with game complexity, and fuel with skilled labor and time.
Add that fact on top of the decade long stagnation of Moore's law, and you have your answer. Processors have been getting more efficient but not much better. In short: phones are catching up to everything else.
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