A quote from Henry Petroski that has stuck with me: “The most amazing achievement of the computer software industry is its continuing cancellation of the steady and staggering gains made by the computer hardware industry.”
Petroski was completely wrong about this. It is just that all of the gains from hardware have gone to enabling additional features rather than making the same feature set faster. Things like ripgrep make it more than obvious how fast simple software could be on modern hardware, but incentives are what they are and for most of the apps out there more features will be more profitable than more speed.
I was astounded when I first used ripgrep.