Might even be lower dev costs in the long term. Specially when having to develop client-side software for multiple platforms, or web-oriented software.

Depends on people and their circumstances. And reality shows given what is available, many choose that.

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Personally, I hate to upgrade my hw every five years only because software becomes more resource-hungry without bringing any obvious benefit except cheaper developers.

Me neither. But that curve is no longer like that. The 2-5 year upgrade routine is stretching.