If other companies can do higher refresh OLED panels on cheaper devices, then Apple has no excuse other than being cheap and lazy. The Steam Deck OLED only goes up to 90Hz, and even that I’d be happy with on the mini.
For the prices that Apple charge I expect much better from them.
In fairness, Steam Deck hardware doesn't make much profit. Their main source of revenue is their 30% cut from game sales.
Apple gets huge revenue from software/digital media but thus far, they haven't made it their business model to sell hardware at a loss or for very little profit to drive software revenue.
Both Lenovo Legion Go and Asus ROG Ally which don't have app stores to generate revenue from still feature LCD screens (albeit very, very nice ones).
Already have a Deck and Ally. Might get the Legion Go to see how it fares as both handheld gaming machine and small tablet.