I suspect shrinking all the components equally would preserve some of the effect, because my intuition without spending too much time is that there are scaling effects that would work that way.
But, I’m mostly saying that its not inherently the case that a small convection oven would have the advantages of an air fryer, and, a major reason for the name “air fryer” for the product categoriy is because countertop convection ovens without those advantages already existed, because they were optimized for other goals, so just calling them “countertop convection ovens” would have sent the wrong message to buyers familiar with the existing category.