The problem with monitors is much more with the display industry's preference for finding new ways to scam customers instead of commercializing display technology improvements.
The history of LCD monitors and TVs is a history of the industry increasing prices while finding new corners to cut by removing functionality that reviewers and users didn't know they needed to test for.
When users first realized that IPS was vastly superior to TN for most purposes, the industry responded by making low-quality 6-bit IPS panels, which the industry happily described as 'IPS' without disclosing that the panels can't display color gradients--and often flickered badly due to FRC. Early 6-bit panels were worse than TN in everyday use.
6-bit IPS is now essentially unavoidable in smaller, non-4K, screens.
Another fun scam the display industry concocted was releasing one production run of good quality 8-bit IPS monitors, to get positive professional reviews and user word of mouth, then making subsequent production runs under the same model number with 6-bit fraud-IPS, PVA, or even TN panels.
The low-frequency PWM backlighting scam (which probably saves all of ten cents per display) is now known well enough that reviewers will test for it, but the industry has developed other ways of preventing users from purchasing good-quality hardware at a fair price.
Dynamic contrast is a particularly insidious problem. This piece of joy from the display industry changes the backlight intensity and RGB pixel values depending on screen contents. As a result, the color tint of the display changes depending on screen contents. These constant color shifts make dynamic contrast monitors unusable for even non-professional design/photo/video work and prevents color calibration entirely. This technology is even applied, with no user option to disable it, to monitors sold as sRGB pre-calibrated and marketed towards mid-range color work. Officially, dynamic contrast is intended to save energy, but the actual intent is likely to force people who want stable colors to buy professional displays at ten times the price.
A new scam that's emerged since the start of the pandemic is color gamut restriction; it's now very difficult to get displays--especially laptop displays--that support more than 50% of the sRGB gamut. Displaying actual red is now something the industry has decided to exclusively paywall into professional panels targeted at the design market.
The problem with displays isn't technology; it's an industry that's built on the premise of ripping off consumers.