Fact: In the 1990s a reasonable capable computer was a significant expense on the order of $1K, and likely to be obsolete within 5 years. My best present laptop is 5 years old and perfectly capable and was free because its previous owner didn't want it any more because of a minor defect. That's an exception, but the fact is, being somewhat tolerant to less than state-of-the-art computers, I haven't bought a new one,…
Reading through IBM computer brochures and fooling around with the desktops and laptops in our local Costco were favorite past-times of mine.
Cheap desktops existed but were universally terri-bad. Low spec Celeron processors with anemic memory and disk space. They _just barely_ ran Windows and ground to a halt after most users got done installing their IE toolbars and some form of Office. (Remember when Office Professional was EXPENSIVE?!)
Cheap laptops didn't exist before netbooks. Like, they just _weren't_ things.
You can get an M4 MacBook Air these days for $999. A laptop that can do just about anything, including and up to CAD and photoshop work, for at least $1000 (today's prices, NOT today's real prices) less than a middling Thinkpad 600 that had maybe three hours of battery life and was good enough for word docs but not much else.