>I feel like for the first time in our lives we might have seen peak technology for the next few years.

This happened for a while with CPUs in 2004 or 2005, IIRC. At the end of the Pentium 4 era clock speeds and TDPs were so high that we hit a wall. Nobody was pushing past 4 GHz even with watercooling (I tried).

Dual-core processors were neither widely available nor mainstream yet, and those that were available had much lower clock speeds. It definitely felt like we hit a lull, or a stagnation, in those years. It picked back up with a fury when Intel released the Core 2 Duo in 2006, though.