Keep in mind that the very first CELP speech codec (in 1984) used to take 90 seconds to encode just 1 second of speech... on a Cray supercomputer. Ten years later, people had that running in their cell phones. It's not just that hardware keeps getting faster, but algorithms are also getting more efficient. LPCNet is already 1/100 the complexity of the original WaveNet (which is just 2 years old) and I'm pretty sure it's still far from optimal.
This is roughly >100x computation for 2x improvement, which might sound great, except we are already talking single digit Kbits here, hence diminishing returns.
