Upgrades used to be transformational, now even if I'd drop $6000 and get the best of the best it wouldn't be. I'd still have to rely on DLSS. The local AI would run in 8 minutes instead of 10? That's not transformational. In the early 90s upgrading meant going from no textures to fully textured objects, that was transformational. In the late 90s upgrading meant going from software rendering to HW accelerated rendering, that was transformational. In the early 2000s upgrading meant going from 640x480 to 1024x768. The last time doing a new build felt transformational was when finally 4K native became a possibility in 2014.
I will play Devil's advocate here.
There was a giant downside; Obsolescence happen far too fast. We didn't call it the
bleeding edge for nothing.

In just a few years you needed a new vid card to run the latest blockbuster games on the newest DX version. Tech like Glide far too quickly went the way of the Dodo bird. It's a big reason why consoles became so popular. Buy a console, have access to exclusive games, not have to worry about being able to play new games for a long time. 360 launched in 2005, yet you got to play GTA5 at launch in 2013. Admittedly, you were actually on your 3rd 360 because of RROD

LOL
Yeah, it was cool being there as gaming went from looking best in the arcade cabinet to being on your home console or PC. And the massive visual improvements constantly happening certainly had that AMAZE AMAZE AMAZE factor. But the law of diminishing returns/ innovation exhaustion were inevitable.
I am among those gamers that would have been perfectly happy if we never left what I call the sweet spot. Red Dead 2, AC Odyssey, Shadow of War, Days Gone, those games were peak raster and beautiful. Only thing I would add to them is better textures. I don't need the wonder years back. I just want fun games with great art direction. UE5 slop games mostly look the same. I burned out on the Borderlands games long ago. And the performance to visuals in the latest iteration is criminal. But I give them credit for that visual style. Photo realism should not be the art style in so many games IMO. Thank the spaghetti monster indie games are full of creativity.
Now we are seemingly going backwards, we don't have 4K now without upscaling even in games with no RT.
One of the biggest advantages of PC gaming over console, is access to so many visual settings. Adjust those settings, and the game looks the same or better, and runs much better. Maybe we can spot minor differences if we have a side by side, zoom 300%, and pixel peep. I let the pros do that hard work then just use their optimization guide for the game in question when needed. I don't think there is a game in any of my libraries I can't play at 4k60 on my RDNA 3 and 4 flagships. Never mind the power of a 4090 or 5090. And TAA is garbage. I am stoked we have FSR, DLSS, and XeSS AA at native. There are games that look better with DLSS TM quality upscaling than native 4k TAA. Upscaling has turned out to be the killer app for RTX, not RT, PT, RR, or MFG.
Which brings me to another preference. I rarely play games when they come out. I did it with game pass for a while. And if it came bundled with hardware I bought. But I don't pay new game prices. My strategy going back to the 2000s has been a version of will it play Crysis? By the time I buy the game at serious discount and get around to playing it, whatever hardware I am using at the time will be capable of running it really well if not maxed out.
@GodisanAtheist does something similar AKA the patient gamer.
So why upgrade at all? I think this killed the hobby more than the price. Because I'm crazy enough to pay more for my computer than my car, if it would feel the same as going from software renderer to Glide.
Your willingness to spend big money on a transformative experience definitely puts you in a very small minority of gamers.
I think VR is the last time I had that AMAZE feeling from gaming. If you have not tried it, maybe something like the Steam Frame might be worth a go for you. Or you may have just aged out as many do.