Why do you think there is a zero sum choice between real terms purchasing power increases and the technology we have today? (Also worth noting I'd happily take a lot of goods from a time where they were built to last)
That's a graph of disposable personal income, not purchasing power, and it doesn't account of the increased cost of several major spending categories.
It's also the total disposable personal income for the entire country, and not median household income. See the "Units" field: it's in billions of chained 2012 dollars.
It's from 2018, but this shows what's going on more clearly:
