Mechanically, this tends to be true. I don't know about for electronics. The vehicle engine is a good example - a diesel John Deere from the 70s has a massive block that will last through my grandchildrens' lifetimes. The newer engine blocks are not designed to last as long, and thus have tighter tolerances allowing them to build smaller, lighter, more powerful engines for less money - given, again, that they are not intended to last for as long.