Yeah, that's basically the way accessories have gone. Powerful mcu's and soc's have gotten cheap enough to make it viable. Makes me a little sad though, I liked having low latency "GPIO's" straight to software running on my PC (but I'm thinking as far back as the parallel port... love how simple that was).
With USB4/TB you can get quite far in both latency and throughput. Actually there are network adapters with TB connection that are just TB to PCIe adapters and PCIe network card.