Notable exception: Compaq
I bought a Compaq laptop with a 64-bit CPU for under $1000. It ran flawlessly for over a decade, needing only a new battery. I eventually gave it to my parents who still have it.
HP had already been racing to the bottom for years, though.
PS: Yes it's unfair to blame all this on Compaq, probably more a result of increasingly expensive semiconductor R&D.
However, on the more profitable inkjet side of the business we've been doing a lot of R&D and I don't think we've sold a single vacuum cleaner.