Even if people still own laptops, if they aren’t using them as much they aren’t going to upgrade as frequently and they aren’t going to buy the expensive models.
Theres also the fact much of the developing world went straight to mobile, skipping laptops.
And yet MacBooks, some of the most expensive laptops, ate out selling iPads, and outgrowing them. I don't think the data points in the direction of your argument, quite the opposite.