Your forgetting a little detail ... While you do not need a lot of new stuff, companies need buyers. A lot of companies work on rather thing margins and losing potentially 10 a 20% sales can result in people getting fired, or companies shutting down.

Remember, its not just about "O, X big brands sells less, they can deal with it". But a lot of brands have suppliers who feed that system. Or PC component makers like ... heatsinks, Fans, Cases ... seeing a 20% less sales because people buy less new PCs.

People do not realize how much is linked in the industry. Smaller GPU card makers are literally saying that they may be forced to leave the industry because of drops in sales and the memory prices making the products too expensive.

We can live a long time on old hardware but hardware also limits. Hey, the wife's laptop is from 2019, just before Covid (2020 when a lot of people bought new laptops). The battery is barely holding on. Replacement? None (reputable) ... So in a year that laptop is dead.

How about phones? Same issue ... battery is the build in obsolete maker.

You see the issue. It goes beyond what what most people realize.

Wait when a recession hits when the whole AI bubble bursts and cascades down the already weakened industry. Unlike previous bubbles, the hardware being build is so specialized, that little will hit the normal consumer market. So there will not be a flood of cheap GPUs or memory being dumped on the market.