A few years from now Nvidia/AMD will go the same way as Apple. It's already happening through Nvidia Sheild, Steam Deck, etc...
Intel and AMD will have to switch from x86/64 because they're clock limited. You can't just keep upping the Ghz, or clock cycles without producing more heat.
Therein lies the problem.
As to the laptop market, we're at 2008 levels with PCs if that. To get M1/M2/M3 beating performance requires using desktop components and supposing that the average user will still tolerate a battery life of less than 4 hours.
Apple beat the battery life issue in 2008 but Intel and AMD are 15 years behind the curve now with that, and suppose people don't care about battery life or form factor.
Henceforth, the rise of Surface Books, and Chrome Books. Some people do care, but can't or won't spend for a Mac.... My question is whether you should blame them when a new MacBook Pro is now $2600 in Australia.