Not the whole story. As an example I just got a new scanner. It's almost twice as fast as the ten year old scanner it replaced.

Or I got a computer with a larger hard drive. Less mental overhead in managing files.

I loaded my macbook pro from 2015 recently and it runs great (though past security updates). But the fans spin, as they did in 2015 as well. Newer Apple Silicon blow it out of the water, including on say video editing or other areas where bloat isn't the issue.

There's a lot of genuine technical improvements in ten years that aren't just keeping up with bloat. These are prosumer use cases above but the same sort of thing applies to corporate systems.