It used to mean that, but the new M5 Pro and M5 Max have separate CPU and GPU chiplets with an interposer, similar to how the previous generation Ultras were based on connecting two Max full dies. So it's unclear whether there will be any Ultra for the M5.
This tells me the Max CPU chiplet has two interfaces to GPU dies. If you can connect two CPU chiplets via the same interface, making an M5 Ultra is doable by joining two CPU chiplets, each with a GPU chiplet attached.
Ditch the Aluminium and go with a copper MacBook Pro. Or silver. If you get it with a terabyte of RAM, the silver shell will be a small part of the total costs.
Argentium 960 would most likely be the best alloy for the job, as it’s a good heat conductor and doesn’t tarnish like pure silver.
There are gaming laptops that come with power bricks rated for higher output than a Mac Studio's power supply. M3 Ultra levels of power dissipation are possible to handle in a laptop, but it wouldn't look much like a MacBook Pro. That kind of gaming laptop typically has four fans (compared to two on a MacBook Pro), and large vents on the sides, bottom, and back of the machine allowing them to move a lot more air through the system.
