It is happening with cars too, it just that features are being added even faster than the price can come down. If you wanted Ford F-150 in 1970, you could do most of it, but it would have been a multi-million dollar car. You get all that for 50k. You are getting a lot more per dollar.

This reminds me the housing discussing - a part of the affordability problem is that houses have gotten much bigger. And have air conditioning. And have to comply with strict building codes. And have to be fire safe.