Whenever I buy a console I'm super aware I have maybe 5 years of using it before I'm forced to upgrade to the next console. It's even worse with phones. I wonder how many of these devices (or realistically, new features existing devices) are held back on purpose to justify a new phone every year.
What is the current rate of technological advancement if we discount capitalism creating a culture where businesses don't put out their best product always, and innovation is not innovation for the sake of itself, or to make people's lives easier, but a tool used to beat out the other guy and keep making money off of people every year?
If we talk about software I'd tend to agree, but especially electronics hardware... That is more forgiving in that sense that you don't have to work with that product for years, maybe decades, while software usually is more incremental.
Sure, even with hardware you build on what you already have, but in consumer electronics there usually are fewer "moving" parts than in your code.
80+% of parts on a PCB are just there to support a handful of ICs, and are basically required by the IC, and not really subject to change.