I've sat down and enumerated the things I do daily on my computer versus what I did back in ~2000. Besides streaming (youtube, netflix and spotify basically), its pretty uncommon that I do anything that I couldn't or didn't do back then. The performance of these things, now, seems about the same anecdotally. Maybe it was a little slower then, but not so much slower compared to the hardware performance difference. It makes me sad.
Also, as I said in other comments, I once developed hobby projects on a netbook. I of course ran a minimal system and didn't run resource hogs like slack. I'm currently using a cheap laptop running a minimal system (but unfortunately I do need to use slack, chrome, docker for work). They run fine.
I think developers or companies have decided that developer time is more important than performance and resource use of their products, punting the cost of that onto their customers. If my work didn't require it, I would definitely switch to more resource conscious tools and I'd be a bit happier. Oh well.
I used to be able to open 3 Twitch streams in 720/1080p back in 2010 on a dual core Athlon X2 5000.
These days, if I open 2 HD streams in Firefox on a 4.2 Ghz quad-core 4670k, the system essentially freezes - the browser becomes unusable and both streams lag. Thank god for streamlink that lets you bypass the browser interface and view the streams in VLC or MPV.
Not to mention Electron-based apps using 600-800MB for a chat program with some light jpeg usage.
Developers' blatant disregard the the use of user's system resources is insane. It seems that regardless of hardware improvements, the modern developer only targets "acceptable" levels of performance, leaving power users frustrated.
It doesn't seem as easy to switch Windows to a lighter desktop environment.
Granted, using XP today is not recommended for other reasons.
Hell, I did a lot of (hobby, not work) development on an eee PC netbook a few years ago. Besides the discomfort that a small screen and sub-normal keyboard brings, it was a reasonable experience. I didn't have to run slack then though.
Obviously it depends on what you're doing though. Processing data? Running a ton of tools all at once? Differing workflows and requirements have different hardware needs.