PGMs are genuinely transformative, but not magical. Historically, air forces spent enormous tonnage for limited effect because accuracy was poor. In WWII the USAAF’s “precision bombing” ideal often translated into city-sized aim errors due to weather, navigation limits, flak, and formation bombing realities. The shift begins with Vietnam (laser-guided bombs at Thanh Hóa bridge are the classic example), then matures through Desert Storm where strike planning, ISR, and PGMs combined to systematically dismantle fixed infrastructure.
Effectiveness depends on the kill chain: find, fix, track, target, engage, assess. A JDAM is accurate if you know exactly what and where you’re aiming at. If coordinates are off, you’ll very precisely hit the wrong place. For mobile targets, the history is more mixed—Cold War doctrine emphasized interdiction and attrition, but modern “dynamic targeting” depends heavily on sensors, datalinks, and rules of engagement.
The “one bomb, one target” idea is real for certain target sets (bunkers, buildings, bridges) under good conditions, but operational planners still build in redundancy, consider aimpoint hardness, weapon reliability, and desired probability of kill. If you want a historical baseline, compare Desert Storm’s early PGM ratios to later Kosovo/2003 Iraq where the system-of-systems improved dramatically.