Could it be argued that transformers are only possible because of Moore's law and the amount of processing power that could do these computations in a reasonabl

Could it be argued that transformers are only possible because of Moore's law and the amount of processing power that could do these computations in a reasonable time? How complex is the transformer network really, every lay explanation I've seen basically says it is about a kind of parallelized access to the input string. Which sounds like a hardware problem, because the algorithmic advances still need to run on reasonable hardware.