It is what happened, but it took a paradigm shift (aircraft carriers) not an increase in computational (fire-)power.

The Japanese actually invested heavily in the biggest battleship in the world. It was soundly defeated at sea by an inferior force with an aircraft carrier at Leyte Gulf during World War II.

I thought that what happened was that the USA was the only major industrialised power to emerge from WW2 with a functional government and economy, and consequently enjoyed 20+ years of unprecedented economic dominance. Subsequently it built whatever military assets it damn well pleased.

I would argue that if you want to identify the mechanism of military dominance that the US has used to assert itself in the world you should look to Trident and the Ohio class.