Both true. The 70's were actually populated by real people, it isn't just a fictional environment where they all walk around really fast and jerky in black and white clothes. Teams of people might be large or small just like 200 or 2000 years ago - prob the pyramids project was quite a large team for example
But the art of programming is twice as old now so it's natural the magnitude of what can be achieved per person is much greater. I would put that down to maybe 25% improvement in computer languages and project management, and 75% cultural, in that (a) people grow up using computers form an early age, and (b) computers are a central part of society as a whole - e.g. the internet.
Hope I didn't insult anyone's favourite - like most of my posts I was trying to make a lame joke first and foremost. Seriously I've never used LUA but several posters were saying it's a bit unconventional so I'm curious. One I really enjoyed on the mainframe was "Filetab", which was a bit like creating a su-doku puzzle for the computer to solve at run time and achieve some objective as a by-product. Totally impractical and unreadable afterwards, even by yourself when you came to fix a problem 2 weeks later. Great fun to write though
Lots of modern languages are well designed. Object orientation has I hope now become de rigeur so that's important, but otherwise it has to be horses for courses. I'm a systems progammer so it's C++ 99% of the time, and I think it's close to perfect for that.
C++ and Lua go together well