I've posted a few times here on this. I don't see how going back to the 1950s markets, let alone the early 1900s is helpful. Even back to 1970, who would've guessed that the likes of GE, Exxon, Philip Morris et al would be so different. We now have mutual funds, ETFs, AI, hedge funds and hundreds of non market cultural differences as well.
Those comparisons look back through an Industrial Revolution lens, a time that we, and our markets no longer inhabit.
In short, our world and the markets that react to our world is entirely different than even a few decades ago. While I fully appreciate the FC outputs, I always wonder about the value of looking back 50 or 100 years to such a different time...how relevant can that analysis be? We might as well look to ancient Rome for comparison. IMO.
And now we are on the cusp of AI and space travel/exploration potentially within a generation or two. Certainly not the same but there are seeds for another growth spurt that could germinate. I'm optimistic (don't you have to be to FIRE?) if we don't blow ourselves up with the technology first and if that happens WDR doesn't matter. Who knows when it will stop...