Easily overlooked is the fact that the boom was a one-off event. The unique combination of the Year 2000 bug buildup, the Internet explosion and the telecommunications bubble is not likely to repeat during our lifetime.
The other reason for pause is the law of diminishing returns. You can buy the latest, greatest computer on the market, but people still only have a limited amount of time to learn everything in the handbook. As it is, folks can only handle a fraction of the functions getting built into hardware and software.