Miniaturization is amazing. The limiting factor to how powerful we can make phones is not space to put in computational units (processors,ram,etc). It is the ability to deal with the heat they generate (and the related issue of rationing a limited amount of battery power)
In addition to the raw compute power, the HP laptop comrmes with a:
I’ve been looking for a lapdock [0], and the absolute low-end of the market goes for over $200, which is already more expensive than the hp laptop despite spending no money on any actual compute components.
Granted, this is because lapdocks are a fairly niche product that are almost always either a luxury purchase (individual users) or a rounding error (datacenter users)
[0] Keyboard/monitor combo in a laptop form factor, but without a built in computer. It is intended to be used as an interface to an external computer (typically a smartphone or rackmounted server).