That's what most laptops used to cost back in the 1990s or so (after adjusting for inflation). If you look further back in time, hardware was even more expensive - and it couldn't even do 10% of what a modern MacBook does. Modern hardware is ridiculously cheap.
In the 90s most people didn't have a laptop for that very reason. They just owned desktops which were way cheaper.
I studied computer science then and I knew 1 student out of 50 that had an actual laptop. Even at the uni we had to use their computer rooms full of desktops and X terminals.
I had a Gameboy, parents had a PC. Friends all had a game console. NES, SNES, SEGA, Amiga, C=64, etc. PC went booming in 90s though. Because here you could buy a PC tax deductible via a law called 'pc-privé'. This was to stimulate citizens to learn to use a computer in their private time. Still, even with tax deduction a PC was very expensive. Not like a car, but expensive still.
Not really sure they were much cheaper in the 90s. My first PC was a Dell P90 in 1994, IIRC it cost about $2500. There was kind of a mantra at the time that no matter the improvements, you'd always spend about $2500. And adjusted for inflation, that "way cheaper" desktop was over $5K in today's dollars.
Inflation calculator says the Core 2 Duo MacBook Pro I bought in 2007 is something like $4400 now. Bought a small intel ssd for the sata3 port in it too for probably another $500 now
That's what most laptops used to cost back in the 1990s or so (after adjusting for inflation). If you look further back in time, hardware was even more expensive - and it couldn't even do 10% of what a modern MacBook does. Modern hardware is ridiculously cheap.