I never see it mentioned by others and I think it's a major key point:
computing requirements are plateauing.
Every time people have claimed that it has quickly proven false. You're assuming that AI is the end all and be all of innovation and we'll never (or at least not for the next decade) come up with anything that needs more computing power. Before LLMs became something everyone was pouring money into, you could have made the exact same claims you made here and been quickly proven wrong.
The only things that plateau are things where human senses are a limitation in the loop. That's why I think broadband speeds have plateaued - 1 gigabit is more than fast enough for most of us and there is no use on the horizon where anyone needs 10 gigabits. The most bandwidth intensive things you can do with your broadband is video streaming but one person can only one watch thing at once - or maybe 4 if they do one of those sports watch 4 way viewing things but those are usually delivered at lower resolution than a single stream since there's no point streaming 4 4K streams to put on a single 4K display) We could go higher if VR/AR ever goes mainstream, but even that's limited especially if you use foveal trickery to avoid delivering every at the max resolution of center of vision. But as far as computing requirements in terms of CPU, RAM and storage performance? Nope, there is always going to be something on the horizon that wants "more", beyond the eventual limits of technology to deliver "more" or to deliver it at a price anyone is able to pay.
Now for CONSUMERS I largely agree with you, with the proviso that I would have said (and did say) the same thing 20 years ago. Not that the "typical PC" in 2005 was fast enough for 100% of consumers, but that it was fast enough for some of them and still would be today. The percentage of consumers who need "more" has continually shrunk this whole century and will continue to do so. There will be always be some who want "more" (and they are wildly overrepresented on a site like this one) but there will be fewer and fewer of them as time goes by, unless some new "killer app" appears that causes some of those who for whom today offers them more than enough to suddenly say "I can't buy anything today that gives me everything I need/want".