Dan Luu benchmarked a bunch of different web platforms to illustrate the bloat that makes some of them completely unusable on lower-end mobile devices. His analysis was incredibly illuminating, and I thought his comments on CPU vs. bandwidth were interesting:
It's still the case that many users don't have broadband speeds, both inside and outside of the U.S. and that much of the modern web isn't usable for people with slow internet, but the exponential increase in bandwidth (Nielsen suggests this is 50% per year for high-end connections) has outpaced web bloat for typical sites, making this less of a problem than it was in 2017, although it's still a serious problem for people with poor connections.
CPU performance for web apps hasn't scaled nearly as quickly as bandwidth so, while more of the web is becoming accessible to people with low-end connections, more of the web is becoming inaccessible to people with low-end devices even if they have high-end connections.