They’ve gotten much better for sure, and for printouts onto plain paper, will certainly be more vibrant and sharp than inkjet.* The very best photo quality is still from dedicated photo inkjets onto photo paper, since they use many inks (light cyan, light magenta, and some selection of the following: one or more shades of gray, red, blue, green, violet, or orange). And inkjets can print onto a multitude of textured photo papers (or other coated substrate, like canvas or plastic film), matte or glossy (or my favorite, satin), which is why they’re so popular for art prints. Laser can only print onto smooth matte paper, usually not even glossy paper.
*For documents on plain paper, I’m still partial to inkjet because I hate how toner reflects light on its glossy surface, reducing contrast if light hits it at an inconvenient angle — I prefer the matte output of an inkjet. But that’s really a personal preference, not a quality criterion as such.