Back then PC's were very expensive. About the same price they are now, so in real terms they have dropped in price considerably. Few people could afford them back then. In today's prices an IBM PC was about £5000. People wanted economy not flashy. When the Chinese first introduced clones they came in a whacking 2/3 of the cost of the original IBM and they concentrated on cheap cases, cheap motherboards, cheap everything.
The first PC's were 4Mhz. To think now we are above 4GHz! The idea of flashy was far from anyone's mind. Apart from anything else there wasn't really much you could do with them! It took a long time before modern gaming really even started. The likes of Wolfenstein 3D came out in 1992, then Doom in 1993. I wonder if anyone remembers the Voodoo? Or the GeForce 256? Amazing to think really that FPS games are only 26 years old.