This was true when Moores law wasn't dead. Per watts performance has been flat since Ampere. There is a reason why undervolted 3090s are still used.

GPUs do have a life expectancy. They don’t run forever, especially at high temperatures and full utilization.

	▲	noosphr 13 minutes ago \| parent [-]
		You undervolt them because the last 50% of power adss 10% of compute.