The one thing I take for this is that desktop CPUs are now "completed". When looking at what's on the horizon they will simply not provide much more performance going forward.
Both Intel and AMD are bringing us such minuscule performance increases from one generation to the next that it is pointless to upgrade your desktop PC. We're heading towards 10 year upgrade cycles. And no, I'm not bitter...
I'm not so sure about that. Even in a "mobile first" world, there are a lot of technologies and improvements that carry over from the mobile world that can provide benefit to the desktop world.
For example, L4 caches are in consumer products, thanks to a quest for performance per watt, where they previously had not been. Right now, there's not a whole lot of use for a 128MB L4 cache, but I don't think it'd be difficult to take advantage of it.
The classic example of "mobile first" bringing benefits to the desktop was Conroe.
At any rate, even though benefits are being focused at the "bottom" of the performance stack, look how much better the bottom has gotten. We're almost to the point where an Atom-level core can power a computer for cheap. I say almost, because I don't feel like Silvermont is quite enough, and because it's rather overpriced right now (although there is no technical reason it couldn't be priced much lower). Airmont might bring us there, perhaps Goldmont, but it's not hard to see that it'll catch up quick.
The industry is on the verge of making some major breakthroughs. New channel materials (SiGe, Ge, III-V -- next 2-4 years), new transistor designs (FinFET, TFET, NWFET -- already here in the case of FinFETs, other designs coming within a decade), stacked memory (this year, and in increasingly higher usage as costs come down), and newer memory technologies (PCRAM, ST-MRAM... the latter which has actually made it into the real world).
There's also been a growing trend of fixed-function hardware that was (I believe) pioneered by Intel's quick sync. AMD now has VCE, TrueAudio... it's not going to stop there either.
Look at mobile displays. There's strong potential for mobile focused display technologies to make their way into desktop panels.
Even with this lull of CPU performance gains, there
has been something pretty incredible that is already making a huge difference with computing performance, and that thing is NAND. Solid State Drives are a simply huge improvement.
There's a lot to be excited for. Kaveri may not be one of those things, and you may not consider Haswell or Broadwell to be enough of an improvement to win over your hard earned dollars, but it's coming. Call me crazy, but the computer industry has only recently become "big." It still pales in comparison to energy, retail, finance, defense... as the industry grows, so will the improvement.