Not really. I mean, iPhones were slower than laptops back then but that’s not saying much as all phones were in the same ballpark at best. The actual reasons are well documented: it was a ressource hog (on all platforms, not only phones; there were still netbooks around), sucked batteries dry (including on both Windows and Mac laptops with much better batteries than phones), and was unstable (being the leading cause of crashes on Macs at the time). Jobs even wrote an open letter about it.

It was not practical on Android either, mostly a stunt, and faded quietly into obscurity over the course of a couple of years.