My hot take is that servers could potentially last longer than 6 years so it is all really just accounting. Or at least is was never as short as 3 years. When

My hot take is that servers could potentially last longer than 6 years so it is all really just accounting. Or at least is was never as short as 3 years. When we were in a low/zero interest rate environment - there was a growth at all costs mentality among investors (and therefore management). Since investors didn't give any bonus points if a company was able to operate profitably - might as well depreciate to the max allowable by accounting law and not show a profit. In fact - not showing a profit was actually seen a positive features/badge of honor for a stock. Now that interest rates have gone up, investors care about ability to generate current cashflow/net income and are prioritizing rational PE ratios - depreciating expenses over a longer time horizon (closer to reality) makes sense.