Doing an empirical algorithm search to find which algorithms fit well on modern CPUs/memory systems is pretty common, see e.g. FFTW, ATLAS, https://halide-lang.org/
For practical sorting, for a particular CPU architecture, there is still plenty of low hanging fruit:
> Today we're sharing open source code that can sort arrays of numbers about ten times as fast as the C++ std::sort, and outperforms state of the art architecture-specific algorithms, while being portable across all modern CPU architectures
https://opensource.googleblog.com/2022/06/Vectorized%20and%2...
Or is that why hardware properties change so much?
So nowadays a new CPU might not be better at everything then the previous version but it will most likely have more cache and some internal improvements to pipelining/concurrency.
Given this, for newer versions it can be useful to add instructions to take advantage of extra pipelining or using a different instruction that happen to be faster now.