It's still quite performant. Some of the larger factories people have built are truly stunning in scale, yet can run at 30+ updates a second. People can host games with hundreds of players with relative ease.
At the beginning of the game, even quite modest computers will have no trouble with it, but that's not a reflection of what the game is about. Big factories are much of the point.
Unlike in a lot of games where the computational complexity is all graphics-oriented and done in the GPU, these computations are largely all CPU.
Modern laptops should generally be fine though.
Sure, once you go megabase scale, after a few hundred hours of playing, most hardware will lag a little. But at that point there are millions of objects the game has to track every loop, there isn't terribly much that can be done about it. The game doesn't aggregate like OpenTTD, where the number of passengers at a train stop is just a number. Because of the way it works, every piece of iron ore in a train station in Factorio is a separate object existing somewhere. (Though they do some tricks to abstract that a bit as well, see their belt compression blog posts.)