This still holds for the majority of users. Only tier 1 dotcoms can run stuff on GPUs economically. For everybody else, just getting many times, possibly few magnitudes, more commodity x86 machine time still makes sense.
I always remember the saying of my ops unit head once I worked in an advertising network. It was something to the meaning of: "a new coder like you who can find a fancy algo to do thing A and B faster pays off in two years, but a 10 new servers will pay off in just 2 month"
And I am still convinced that fabs will continue mercilessly squeezing CMOS till the last drop of blood for at least a decade. There are tons and tons of avenues to make cells smaller, cooler, and more performant that don't involve further process down scaling or switching to a next gen semiconductor.