One of the reasons people keep making the same "mistake" is because moores law isn't actually a law, and just an observation that was true from the 1960s to 2010s, so rightly assumed moores law wouldn't go on forever so relying on ever increasing availability of compute wasn't the best strategy.
Moores law has been dead for years now and the growth in compute is gradually slowing further. Yes, compute will continue to increase, but the pace is slowing and there is potential for it to stagnate.