I think about this too. There are several headwinds. Rent-seeking and collapse of economies of scale in the consumer sector for sure, but also I feel like we've basically peaked in hardware's ability to meet routine needs.

Once the phone makers realize that they can sell phones and docking stations to businesses because 90% of knowledge work seems to happen in a web browser through one SaaS or other I think personal computers will be cooked.

I don't think phones are really any cheaper than the mini PCs that businesses can already buy. Which makes sense, because a phone has to include a battery, touch screen, and is under tighter space constraints.