I don't know about the progression of PSU efficiency, but 32bit desktops were rocking 250-400w PSUs and modern desktops would be hard to find one less then 650w so sure maybe we're more efficient for the amount of compute/W but running flat out will still hit your pocketbook harder on a modern system.
replyI’m in favor of repurposing old machines, but for a lot of the use cases they serve would be more than adequately filled by those little mobile CPU mini-PCs and Mac Mini’s which can go as low as 2-15W and top out somewhere around 60-110W.
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