Where is our gigabrowser?

OK, time for another installment of my favorite rant... the sad state of web technology.

In the mid 1990s the typical personal computer had a CPU rated at 33MHz or upgraded to 66MHz if you could afford it.  Note: MHz stands for megahertz in case you've never seen it, CPU speed is now measured in gigahertz (GHz) and 1GHz = 1000MHz.  Main memory was typically 8MB or 16MB if you could afford to add another $400 or so. And yes, that's megabytes, roughly the size of a few high resolution images taken by the phone in your pocket now.  We measure the amount of memory in gigabytes now... and again that's a factor of 1000. Hard drive space was maybe a couple hundred megabytes, maybe a single gigabyte if you were loaded with cash.  You guessed it, a terabyte (again, 1000x) is now easily within reach, but mostly nobody even needs that much storage so basically we've maxed out that metric! My point is that in the past 20 years the kind of computer that an average person can reasonably afford has increased in capability by 1000 fold, or some multiple of 1000.

Pictorially speaking:

vs.

And keep in mind that the table full of computer above is roughly 1000 times less capable in pretty much every measurable way than the handheld below it!  Unless of course you're measuring energy consumption, in which case the old one wins hands down.

Now consider this:

vs.

The first image is a web browser from the mid 1990s, the second you can download today.  Mosaic (one of the first widely available browsers) had menus, buttons, a text field that required some cryptic input, and a display area below it to show rendered text and images.  Ask a random person 20 years ago what "http://www.foobar.com" meant and you would have gotten a quizzical look.  Quite arguably you still should... but there it still is, right there up top.  And the browser itself still has the same basic configuration of menus, buttons, textfield and display.  Where is the 1000x improvement!?   The internet has completely revolutionized information technology and the world wide web has given us unparalleled access to immense amounts of data, but in comparison our means of accessing it has barely changed in 20 years.

So my simple question: where's the gigabrowser!?