Advances in computation have slowed significantly the past few years. Moore’s Law is generally considered to have been dead for the last decade. There’s a reason Nvidia keeps adding a higher and higher power requirement on their top-end cards the past 2 generations. They’re running out of potential for optimizations, and the main route for higher compute is to now throw tons of power at it.
A better way to look at it is the Steam Deck. It only works because the TDP is 15W. If you wanted to make it more powerful, you’ll need to figure out how to dissipate the extra thermal load. If instead you tried switching to ARM for increased efficiency, the extra layers of translation and emulation puts you about where you started.