I bet that your 1993 486 had 256KB of L2 cache on the motherboard, so from 256KB to 2MB is less than 10 times, for 500 times the RAM and 2000 times the hard disk size.
The value of Cache does not increase linearly with size. You also run into latency issues, so Having L4 cache on a modern motherboard would have little value.
The value of cache memory is the "hit ratio". If increasing cache size by 50% increases cache-hit from 95% to 99%, is worth it, as the 5% of cache-misses could reduce CPU performance to one half.