I think you're right, in part because tech has also plateaued for many people. Things like new processors or operating system releases, etc. used to make more of a difference when there were more obvious limitations holding back the average person.

Mac users used to clamor for the latest processor news because there was no computer available which was fast enough; a 7,200 RPM drive had to be a big deal because everyone spent time waiting on their slow 5,400RPM drive. Digital photographers anxiously awaited better sensitivity, lower noise, storage speed, etc. but it's been years since a good phone camera was adequate for most people and even discerning types were more likely to be held back by skill or lenses than their DSLR.Even on HN, I'd bet most readers would take a LONG time to notice if someone secretly their Core i7 with an i5.