Over the past few years, graphic card architectures have improved on efficiency and lowered power consumption. While it's true that power consumption is less now, it has gotten worse in context of PSUs. AMD and Nvidia are trying to increase efficiency by using tricks like Powertune and GPU Boost which results in power consumption spikes in very short intervals.
The Math Behind GPU Power Consumption And PSU
Spikes in power consumption demonstrated by modern graphics cards need to be seen for what they are: a challenge to the quality of a PSU, not its maximum wattage again.
Over past few years:
Prices of CPUs remained more or less the same.
Prices of mobos remained more or less the same.
Prices of RAM sticks remained more or less the same.
Prices of GPUs increased.
Prices of PSUs increased.
A good quality PSU costs just a little less than Core i3 now.