Definitely not in 2013 though!
I don't think 720p would ever have been a gaming resolution. As the jump from 4:3 to 16:10 would have been at least 1680*1050.
I was playing at 1024x768 until 2012, when my last CRT got too dim to keep using.
Anyway I find sad that some people keep defending price increases "because we get more performance", like it's some unique thing.
Let's play a similar comparison:
2012 - 250€ got me a 24" 1080/60 monitor
2021 - 250€ got me a curved 32" 1080/75/freesync monitor
Today with 250€ I could upgrade my 2021 setup to 1440p.
@EIT:
I probably shouldn't wade into this but I don't think so. Is a ten bedroom house the three bedroom house of today? Is caviar the Aero of 2023? Not everything is relative, some things are absolute. And what you get today, adjusted for inflation, is absolutely far more powerful than you'd get in the past. What you're talking about is Keeping Up With the Joneses. It's more expensive to stay relative to the "mid-range".
Ok, let's play it from the other end:
2017 - 1080p/ultra for $220 (RX 580)
2021 - 1080p/ultra for $329 (RX 6600)
2022 - RX 6500XT is released, RX580 performance for $199 on a card so cut down that made Ryanair flights look like a luxury experience in comparison
Unless you're going to argue that in 2017 1080p/ultra was "high end" I'm afraid the Joneses are going to have to auction their properties if they want to keep upgrading.
Mind that the blame has to be shared though: one one side AMD and Nvidia keep defending their margins like they are a monopoly, while on the other we see TSMC doing the same, which has been leading to performance stagnation in other sectors as well, like smartphones where the average ANTUTU score for <$250 phones is almost the same as 2020.
When we turn around and look at CPUs we see an healthy competition steadily pushing better value per dollar (and coincidentally lower margins), so it's not like we're seeing a true technological barrier but plain old greed.
The good news in this is that fat margins are attracting new players (mainly Intel but also a few chinese companies are targeting the space) so in a couple years we might have an healthier market again!
Some of you might be too young to remember what an healthy competitive market looks like so take a look at the kind of choice we used to have: