To that I say it depends on the type of campaign you are running. ...
For the type of world presented in most D&D adventures, fiction and video games, I think that's a bit unrealistic. When many popular characters in official D&D novels are running around with a dozen magic items or more, I can see why players (and DMs) might have similar expectations for their own game.
Overlooking the fact readers of official novels are only a part of the audience this doesn't ring true.
First, this *might* depend on the edition. Recent books are likely emulating 3e/4e with assumed magic items, but earlier novels would not have been. But I doubt that.
My main experience with D&D fiction is the Dragonlance books. There were a couple magic swords in that, a knife, and a staff. (Plus artifacts). But not a whole lot and they're seldom called out as magic, just old swords.
Drizzt had three magic items of note in his early books, Wulfgar only had a hammer, and Regis had a shiny rock. Even in the later books Drizzt only really used a small hanfull of magic items and most he'd had for years. A far cry from the endless treadmill of magic items of 3-4e.
And for a D&D book club I just read a FR where there was maybe one magic weapon used by the main characters (aside from wands).
In a 4e game (by the rules), a party of 5 receives 4 magic items each level for a total of 24 items each, almost one per level. Ignoring the 18 weapon/neck/armour items of increasing pluses this includes six additional items. At any time a character should have 9 magic items on their possession. And if they sell old magic and spend gold on magic then they might have far, far more.
And in a Pathfinder campaign I just finished (ended at level 17) my wife's rogue fourteen permanent magic items, possibly the fewest in the party.
The thing is, in novels, characters never have the magic items the last few editions expect of characters because communicating that number of items to the reader (and expecting them to remember) is awkward. And just producing a magic item can be deus ex machina.
Now, video games are a different story. That gets tricky as video games are so inundated with loot. For the most part. It's almost expected that you will see lots and lots of treassure.
However, as the associated blog with that image says, the games are "repetitive, grindy, and a little mindess." Because the "loot keeps you coming back long after the gamplay mechanics have grown stale."
D&D is the opposite of that.
Should be the opposite. Once D&D requires constant rewards and wish fulfilment to provide enjoyment the campaign has problems.