Not gonna lie, my memory serves me well. I remember using Windows 98 on an old PC, and it was hot garbage. It took generations to boot up, and applications took generations to open. My story is anecdata, but so it this twitter post. These days I have an infinitely snappy experience with desktop linux on an SSD.
A good way to reality check this is to think about how frequently we saw loading splash screens then vs now. Back then it was common. Office suites, IDEs, browsers, pretty much any non-trivial app would show you a splash screen whilst it loaded. Some even had progress bars in the splash screens. Nowadays even web apps don't have splashes (though you could argue that grey loading flashers are the modern equivalent).