Trust me when I say its not due to a lack of engineering want. Too much money in tech these days, and too many consumers all the more wanting to buy each generation.
Consumers could live with older gens and wouldn't see any significant difference. It was this way for many years. Manufacturers are pushing it, and marketing is trying to convince people that new products are much better. Later, people buy badly designed or unfinished stuff that is barely faster and complain. Most people still buy PCs like fridges.
There is no problem with engineering. There is a problem with cost cuts and saving on things they shouldn't. Fast release, fast sell, and worry later if the RMA rate is high.
Most websites/YT channels are highly affected by marketing/vendors. Most reviews and tests on the web are fake or made by amateurs, and they're surprisingly popular. One recent example, I got an SSD with design flaws and firmware, which was causing it to run 50-70% slower than expected. Still, most reviews on the web said it's great, problem-free and gave it an award. Some don't include screenshots or confirmation that they even tested the SSD. Moreover, SSD got the 2025 Taiwan Excellence Award and Good Design award (I have no idea who gave that, and it's not even 2025). The manufacturer confirmed that the product was faulty, and I waited 2 months for proper firmware. It doesn't matter what SSD it is. What matters is that all those websites couldn't get results as high as the manufacturer declares, but still all gave it top awards.
Most small websites/YT channels (all that flood unpacking videos) publish anything in large quantities and count on clicks ... and they get a lot of clicks. They fear vendors will cut them off when they publish anything bad about their products. Some, mainly large brands actually do that. Professional websites (those that hire reviewers and pay them) don't care and more often give bad reviews or at least honestly write what they think about the product, not only "it's amazing".
These days, the older tech guys quit or focus on other things. Look at how more professional websites are changing or being closed (one example is AnandTech). Soon, there will only be copy-paste marketing from product pages and unpacking videos. Based on that, many people make upgrade choices. Based on that, many believe they need all that overpriced stuff.