Is moore’s law an observation that computer processing power

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Is moore’s law an observation that computer processing power doubles every two years just a fucking meme?

I clearly remember when i was 14 years old in 2012 when i had a cheap Laptop, i clearly remember the specs it had a ATI Mobility Radeon HD 5650, and a Phenom II X4 N930 CPU

I clearly remember my laptop was released in 2010, but in 2012 the LAPTOP was cheap and i decided to buy it with my extra pocket money

Now this laptop wasnt that great at all, but i clearly remember playing games such as dota 2 on medium to high settings without and lag i was getting around 40-60 FPS in that game back then.

i also clearly remember playing battlefield 3 with no issues, 30-60 fps on medium settings

so today my sister bought a laptop which on paper has slightly better performance than my old laptop from 2010 i dont even want to get into the discussion of bench marking each individual cpu and gpu nonsense

but ive discovered that technology its self is being held back by something for example theres theres high end, mid range and low end
but its almost as if the mid range and low end products are just repackaged from the previous year with no performance increase

this goes for sell phones, laptops heck even cars

shouldnt a mid range cellphone from 2017 be better than a 2015 mid range cell phone?

nope some mid range phones from 2015 are better than the ones being released today


so if technology is growing faster than we can keep up, why isnt it ready and cheaper as each generation comes out?