You are basically correct but even today I can add a PHY 10/100MB Ethernet from a low spec microcontroller understand and compile a basic TCP/IP stack, and add

You are basically correct but even today I can add a PHY 10/100MB Ethernet from a low spec microcontroller understand and compile a basic TCP/IP stack, and add some simple telnet or HTTP server on top, several of my projects do this and a lot of engineers have that basic understanding. Even humble AVRs and Casio calculators can run a basic TCP/IP stack but the difference between this and a gigabit ethernet on some massive multithreaded operating system is night and day and as you say well beyond most.