Speaking of cyclical IT, my estimate is going “forward” to the terminal/mainframe-esque concept of simple and cheap “terminals” aka laptops that you use to log into a much beefier “mainframe” aka cloud workstation.
I’m at a FAANGMULA and I’ve been using a cloud workstation from my cheap laptop as my daily driver for months now. The VM is so much higher-spec’d than what they would have bought me for a desktop. Just don’t look at the price if you plan to run it 24/7…