The issue is replacement cost and feasibility. As roads got better pavement (or were more reliably paved) speed limits could increase. I still have some 20-30mph dirt roads near my home here (actually quite a few), but highways were specifically made to support higher speeds (longer straight sections, in sane places smoother curves). Notably, improving road quality did not obsolete the Model T (though it did become obsolete) on its own. It just made them particularly outdated when other, faster, options were now viable.
Nothing has stopped making faster cars just as nothing (fundamentally) has stopped us from making a "better" Internet (supporting more addresses and other features). What hasn't been done is to say, "Ok, so we already have this massive hardware rollout but we're going to literally obsolete 99.99% of it overnight and cost everyone, home users, small businesses, governments, megacorps, billions or trillions to replace their hardware."
Why didn't that happen? Because it would've been stupid. Instead we ended up with what's amounted to two Internets with bridges between them. The transition hasn't been smooth, but it has been happening.