So my current VPS is a non-virtual Kimsufi box for which I'm paying $28 (USD)/month, i.e., $336/year. I'm also paying about $10/month more for a cell phone plan with enough mobile data, which brings that to $456/year. An equivalently-specced laptop that is comfortable enough to use (lightweight, cool, not going to break on me, etc.) would cost me about 2-3 times that amount, and I'd want to replace it at least that often.
(Also if I had a powerful local laptop, I couldn't tell it to do a build, close the lid, and get on the subway without my backpack catching fire. Nor could I have it provide IPv6 to my apartment, host websites behind CloudFlare, provide shells to my friends, etc.)
If I wanted to put some more effort into it, I could certainly do a good fraction of my work (git clone, vi, IRC and email, etc.) on a micro instance. But even a couple of dollars a day would require me to be pretty careful to come out cheaper.