Yes, so do I. It was limited to 800x600x16 color mode or 320x200x256. A significant amount of memory gets consumed by graphical assets, especially in web browsers which tend to keep uncompressed copies of images around so they can blit them into position.
But a lot is wasted, often by routing things through single bottlenecks in the whole system. Antivirus programs. Global locks. Syncing to the filesystem at the wrong granularity. And so on.
Of course, some software other than desktop environments have seen important innovation, such as LSPs in IDEs which allows avoiding every IDE implementing support for every language. And SSDs were truly revolutionary in hardware, in making computers feel faster. Modern GPUs can push a lot more advanced graphics as well in games. And so on. My point above was just about your basic desktop environment. Unless you use a tiling window manager (which I tried but never liked) nothing much has happened for a very long time. So just leave it alone please.
Add to that: unicode handling, support for bigger displays, mixed-DPI, networking and device discovery is much less of a faff, sound mixing is better, power management and sleep modes much improved. And some other things I'm forgetting.