Yes, you just sit back and do all of your computing through lowly graduate students. You can easily add more power by promising more desperate undergrads that they can indeed escape college through your guidance. Full voice recognition interface. Never touch a keyboard or mouse again. No hardware upgrades and no installation required.
Every student comes complete with all hardware necessary.
This won't happen with grad. Imagine yelling expletives at your computer. Doesn't work too well, because your machine just sits there and ignores you. This doesn't happen with grad. When they start wearing and losing productivity, simply give them the PhD and boot them out onto the street to fend for themselves.