Cheaper for sure but not "way cheaper", at least nowhere near as cheap as desktop hardware is today.
In the 90s no one I know had a computer at home. Nintendo/Sega maybe, rich guys had Play Station, but no one had PC.
Oh here people did. Internet was booming and I set up so many PCs. It was great business.
I had a Gameboy, parents had a PC. Friends all had a game console. NES, SNES, SEGA, Amiga, C=64, etc. PC went booming in 90s though. Because here you could buy a PC tax deductible via a law called 'pc-privé'. This was to stimulate citizens to learn to use a computer in their private time. Still, even with tax deduction a PC was very expensive. Not like a car, but expensive still.
Not really sure they were much cheaper in the 90s. My first PC was a Dell P90 in 1994, IIRC it cost about $2500. There was kind of a mantra at the time that no matter the improvements, you'd always spend about $2500. And adjusted for inflation, that "way cheaper" desktop was over $5K in today's dollars.
I studied computer science then and I knew 1 student out of 50 that had an actual laptop. Even at the uni we had to use their computer rooms full of desktops and X terminals.