It's not the 20-year-old PC the tablet has to compete with. It's the brand new PC that costs less, is built around the same level of technology, but has more of everything.
Tablet: low-power processor with decent CPU/GPU performance, a GB or two of RAM, and a few dozen GB of storage.
PC: high-power processor with insane CPU/GPU performance, a dozen GB of RAM or more, and a TB of storage. Oh, and it can be upgraded to have more of all of those things without too much hassle.
That's the comparison tablets are up against.
Making things simple is great when all you have to do are simple tasks. For some people, it's all they need. But for others, a tablet is inadequate, and it always will be. The very things that make it a tablet (small, portable, battery-powered) also make it inadequate for heavy-duty professional use.
Even when I was younger I would have been reluctant to carry my first PC with me. After all the separate case and keyboard of my Compaq 286 were awkward enough and then when I added the bulk of CRT monitor -- forget it.
Even my first "portable" a Compaq the size of a sewing machine with -- gasp -- not one, but two, 5 1/4 inch floppy drives required a wheeled cart if I wanted to move it more than 100 feet without suffering a heart attack.
Yes, my ThinkPads can be carried around and offer more performance than I need, but I find that for much of my usage my tablet is prefereable. Sure, the screen is smaller and (at age 77) my eyesight isn't what it used to be and processing power is laughable when compared to my ThinkPads, but for checking the weather, browsing the web and handling my email the table is good enough. An added benefit is that I can even use it with the dog sitting on my lap.
Of course when I want to do serious work with processor intense applications I sit down at the desk and use a ThinkPad.
The moral of the story is that it isn't an either/or situation and tablets and PCs can and should coexist.