It wasn't even true in 1995, I don't think. The first way of evaluating it that comes to mind is the startup times of "equivalent" programs, like MS Windows, Macintosh OS, various Corels, etc.
It would be interesting to plot the time sequence of major chip upgrades from intel on the same page as the time sequence of major upgrades of MS Word and/or MS Excel. My vague sense is the mid/early 90s had Word releases that I avoided for a year or two until faster machines came along that made them more usable from my point of view. But it seems the rate of new Word releases has come way down compared to the rate of new chip releases. That is, perhaps hardware is creeping up faster than features are in the current epoch?
If it's worth saying, but not worth its own post (even in Discussion), then it goes here.