The main argument against the idea that the steep price increases in PC consumer hardware will lead to a Future of “everything runs in the cloud” is that the makers of software that can’t run on the cloud and remain decent (most notably game makers, as proven by the totally failure of things like Stadia) will just target their software the the hardware that’s expected that people will have in 2 - 5 times, which as far as we can tell is “the same hardware as people have now” because only a small fraction of gamers can afford to upgrade.

I would even say that the trend towards that predates this shit - in the last decade or so it’s pretty much only AAA games who have been pushing the envelope in terms of hardware whilst increasingly Indie games are targetting lower end hardware.