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In part. But it's technology more than anything. We've hit a stage in Chipset development where we can't put any more power into a small space and we can't increase the bandwidth much more than we currently have.One of the biggest things holding back pc games is consoles, it is just not feasible for game companies to have completely separate code bases for their games, so they are hamstrung by the lowest common denominator which is usually the console.
That means that our current technology is on the verge of hitting a wall. The next step is Quantum computing but that's over 10 years away.