things have stagnated because of late stage capitalism. there are a few unbelievably large corporations, who control way more than any one group ever should, and with a lack of competition there's no reason to innovate. while we haven't seen any major jumps in technology, over the last 5 or so years we have refined our current technologies to a point where we cant physically go much further.
games are a slightly different story. towards the end of 7th generation of consoles (ps3, xbox 360) games sales were down and publishers collectively decided that consoles were dead, while in fact people were just saving their money for the future. this lead to stagnation at the start of this generation because corporations didn't want to pump money into something that they thought was going to sell poorly. however we are starting to see them bounce back recently with games like horizon: zero dawn.