Right, but one of the reasons for the curve of capability is the general version of Amdahl's law. A particular new algorithm may make a particular computational task much easier, but if that task was only 5% of the total problem you are trying to solve, then even an infinite speedup on that task will only give you 5% overall improvement. The upshot is that new algorithms only make enough of a splash to be heard of by computer scientists, whereas the proverbial man on the street has heard of Moore's Law.

May I suggest that the reasons that the proverbial person on the street has heard of Moore's Law is more due to that 1) It is easier to understand 2) It has more of a visibly obvious impact on their lives?

Edit: Also, regarding 5%, sometimes the entire problem is just in the algorithm. For example, in the one I gave, factoring, the entire problem is can you factor integers quickly.