I’m an economist and I’m fascinated by this statement.
Surely if something (‘performance’, in this case) is ‘high’ then getting a 5-10% proportion of it is better than getting the same proportion increase in performance on a lesser level (the bigger the baseline, the bigger that 5-10% extra performance is). So it’s apparently irrational: being willing to incur effort (cost) to get something that is worth a smaller amount and being unwilling to do it when the same effort/cost gets you more isn’t what one would expect.
But maybe it’s satisficing: maybe formerly the experience was endurable only when running at 110% of maximum, but now there’s no need to redline to get a decent experience?
Or maybe it’s the law of diminishing returns, utility approaching some kind of asymptote.