JPack is spot on about the power draw, but there are two other physical realities that kill the "M5 Ultra MacBook" idea, even with the aggressive core parking you're describing:
- Static Power Leakage: An Ultra chip is essentially two Max dies stitched together via UltraFusion. Even if macOS perfectly parks the extra cores during normal workloads, a piece of silicon that massive inherently suffers from static power leakage. You'd be hauling around a giant chip that actively drains your battery life even while just browsing the web.
- Physical Footprint vs. Battery Caps: The package size of an Ultra (plus the extra unified memory modules required to feed its massive memory bandwidth) would dominate the logic board. That leaves less physical room for the battery. Since the FAA strictly caps laptop batteries at 100Wh for flights, you'd end up with a thicker, heavier laptop that dies significantly faster than an M-Max.
Running a huge, expensive piece of silicon at 75% speed just to keep it from melting a laptop chassis is exactly the kind of inefficiency Apple Silicon was designed to escape. For workloads that genuinely require that much sustained, parallel compute, the Mac Studio is the right tool for the job.