This is interesting, but maybe our software is doing a lot more today than it was back then. I guess the question is whether those things are necessary. There is of course some software that is just slower because of negligence too.
I remember using a computer 20 years, and they would take multiple minutes to boot into something that was usable, and executing programs would take quite a few seconds because the HDD had to go searching for stuff the executable required.
My current desktop has a Samsung 970 NVME SSD, it boots up in like 20 seconds or something, and everything is extremely responsive as far as reading from the disk goes.
It's interesting that the one thing that hasn't been completely neutralized by the treadmill is SSDs!
Also the LLVM and Rustc thing is interesting. I imagine they are doing much more advanced optimizations than what compilers did 20 years ago so they probably have a good excuse, but I think these optimizations are also neutralized by the treadmill eventually.