For the $1000 it costs for a faster laptop, work gets many thousands of dollars back due to more efficient development.
I could waste time optimising disk space, waiting for compiles (the developer tools we use need single-core CPU performance), enchancing the performance of development tools, waiting for VMs to boot, waiting for Windows VM to update, waste time shutting down that VM I am not currently using. Yes, I could waste time switching to other tasks while I am waiting for whatever it is I am waiting for.
I travel, and while travelling work gets some development time out of me because it is a laptop and not a workstation. A terminal is no use when I am in an area with poor cellular data connectivity (e.g. most planes).
Work definitely wins on this whole equation.