To get that kind of performance nearly 10 years ago in a desktop GPU, I bet you would need a whole lot of dollars, watts, and cube inches.
It is impressive unless you compare apples to oranges.
Plus, on bare metal it reaches 2.6 TFLOPs already.
Not all computers are Macs and at €1000 starting price, it's the entry level Mac but by no means an entry level computer.
Entry level computers are in the €400 ballpark (i5/4500U, 8GB RAM, 256 SSD).
For €1000 you could get a pretty strong gaming computer which is by no means entry level.
https://www.apple.com/at/shop/buy-mac/macbook-air
Not saying you can't find it under that on some promotion somewhere but that really depends on market timing and on where you live.
For example in Austria you can't find it under €999 and that's definitely not entry level money as Apple's entry level comes at a premium and is not representative of the entire PC market entry level.
That being said, I agree with all you said.
Now add the rest of the components and the prices, wattage and size shoots up exactly as described.