I assume a modern webpage has some logic to it which besides the redering also needs to be processed and if you apply that to a scale of billions x years I guess yes. But as I said I'm not an expert in the field nor have I any numbers. It's just what I thought.
Edit:
Thinking of having only to serve a state once and having each action processed on the client side instead of making for each a call the backend which has to return a fully rendered page.
Maybe I have a misconception goin on here!