Efficiency is critical to my everyday life. For example, before I get up from my desk to grab a snack from the kitchen, I'll bring any trash/dishes with me to double the trip's benefits. I do this kind of thing often.
Optimizing software has a similar appeal. But when the problem is "spend hours of expensive engineering time optimizing the thing" vs "throw some more cheap RAM at it," the cheaper option will prevail. Sometimes, the problem is big enough that it's worth the optimization.
The market will decide which option is worth pursuing. If we get to a point where we've reached diminishing returns on throwing hardware at a problem, we'll optimize the software. Moore's Law may be slowing down, but evidently we haven't reached that point yet.