Compared to 20 years ago that's true. But most of the improvement happened in the first few years of that range. With the recent price spikes RAM actually costs more today than 10 years ago. If we ignore spikes and buy when the cycle of memory prices is low, DDR3 in 2012 was not much more than the price DDR5 was sitting at for the last two years.
I had to do the opposite for some projects at work: when you open about 6-8 instances of the IDE (different projects, front end in WebStorm, back end in IntelliJ IDEA, DB in DataGrip sometimes) then it's easy to run out of RAM. Even without DataGrip, you can run into those issues when you need to run a bunch of services to debug some distributed issue.
Had that issue with 32 GB of RAM on work laptop, in part also cause the services themselves took between 512 MB and 2 GB of memory to run (thanks to Java and Spring/Boot).