"I need a resistor? fine: lay out a huge amount of stuff"
"No, I need it more accurate! fine: lay out tracks, now burn fuses to select from unit-scale tracks the 'right' number, and if you want better use a laser to do it"
The omitted serial comma made that really hard to parse for me. In case it did for anyone else, I think that it's:
> (accurate ratios between parameters) and (matched pairs of components) and (inaccurate, but long-term stable, parameters that can be calibrated out).
> accurate ratios between parameters, and matched pairs of components, and inaccurate - but long-term stable - parameters that can be calibrated out.
is much easier to follow at a glance.
Each generation of ICs made it easier to create more sophisticated computers which in turn enabled the creation of yet more sophisticated ICs.