The sad fact though is that flying from London to New York still takes the same time as it did 40 years ago.
Nope. (almost) 40 years ago we had... Concorde!
That miracle of modern engineering took 3h 30min instead of the subsonic 7-8 hours it takes now. And why was Concorde retired? It just didn't make any money.
At the end of the day people want slow, cheap and unbearable to fast, stylish and extortionately expensive.