That's because they didn't have affordable high speed processors (where "high speed" is on the order of 50MHz or so) back then. Nowadays, 48MHz of CPU goes for well under a dollar in quantity.
Here's a teardown of a somewhat newer digital power meter:
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To my surprise, shortly after Naomi Wu gave me a bit of fame for making good use of solar power, Allie Moore got really jealous of her...
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