It means that we are now far more removed from access to the metal to even do a lot of the optimizations that we've done in the past.
Well... no, it means that you are, perhaps. Some of us still write in c or c++, and keep our attention on the details. You can tell you've run into one of us when the many-functioned app you get is a couple megabytes instead of 50, runs faster than the fat ones, and doesn't suffer from black-box bugs inherited from OPC.
I always thought that the user's CPU cycles and memory were things a developer was obligated to treat as the user's valued resource, and so not things to waste.
I know, totally out of date thinking. It's ok, I'm old, I'll die soon.