It is pretty weak but that might be a plus because it sets the ceiling for what can be made and would somewhat prevent the insanely long dev cycles we have today.
Same could be said for the cpu, but that has seen big jumps in performance.
Faster cpu enables 'heavier' applications, some of which also involves more graphics work. And there's also gpu compute (tbh, dunno if that's even a thing on RPi's?).
A useful general-purpose computing device has a practical ratio for cpu, ram, graphics & storage options. Gpu is definitely the part that's lagging on latest RPi iterations.
