Gold - go to this post
The reason a webpage went from requiring several megabytes to load to hundreds of megabytes is due to optimization, and the bastard known as JavaScript. While other modern programming languages have also helped aid in the bloat of the modern web (to day little of software), it is JavaScript that is at the forefront of demanding web tasks and ram use. Block java where you can (its also a major spyware threat).
I think the primary reason that the size footprint of your average webpage has increased drastically since the late 90's is due to an increase in up/down speeds, thus paving the way for more assets to be embedded in the page, and larger images, and so forth. It's also worth mentioning that the DPI of monitors has increased, though not as drastically as transfer speeds. Anyways, this does not excuse the large amount of wasted resources that is exhibited in the modern Web.
JavaScript has its uses; it is crucial in making dynamic webpages work. For example, it is used on this forum in the search function, and for the horizontal scrollbar, used to control pagination on conversations, among other things. That being said, I understand that it's an added, non-essential element of the page, for which reason there is an option to disable JavaScript animations in the user settings. (Without any JS, much of the forum would simply not work as intended.)
I remember waiting for a solid ~5 minutes in order to get a 360p YouTube video to load using a standard dial-up connection. At the time, I never thought that it was exceptionally slow, and was more enthralled with the ability to watch videos, created by individual people, on the Internet! Indeed, 360p never seemed "low resolution" to me at the time, but if I were to go back then I'd definitely feel unsatisfied with those conditions. Technology spoils us.
One of the principle benefits of technological progression is that the comparatively "outdated" technology will tend to become more affordable. This is most evident when comparing the modern price of hard disk storage (per se, a 5TB HDD) with prices from 20 years ago, or maybe even 10 years. When I got my first "terabyte" storage medium, I thought that would be the end-all of capacities, and that I would never exceed such a ridiculous amount of space. Alas, fast-forward over 10 years later, and now I am making active use out of more than 10TB of hard disk storage space. In addition, hard disks have become much more reliable than before, and they are entirely superseded by solid state drives in this regard.
Most of the numbers that you will see listed in a tech product's specifications are only there to catch the eye of the average consumer, and of course, to con them into thinking that they 'need' the next big thing. So, yes, tech specs are "the long con." That doesn't mean I would want to go back, though. I, for one, am grateful to be using the Internet whilst not having to worry about holding up the phone line.
A computer from 10 years ago compared to now isn't as less powerful than a computer from 10 years ago (1985) in 1995. Moore's law is dead.
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