The appropriate display scaling multiplier for this screen is 200% (2x), which is exactly why I regarded it pretty much clearing even this bar. On Windows at least, you can only alter display scaling in 25% increments (this is also why application designers are requested to only feature display elements with pixel dimensions that are cleanly divisible by 4), and so the closest fit for this laptop's PPI will be exactly the 200% preset option.

Using a lower preset than this is trading PPI for screen real estate. I don't think that's reasonable to introduce into the equation here. Yes, you match the relative size of display elements by virtue of (potentially!) being closer to the screen, but in turn you put more of the screen into your periphery, just like with a monitor or a TV. I don't think that's a fair comparison at all. An immersive distance (40° hfov) for this display is at 37.1 cm (a foot and a bit) - I think that's about as close as one gets to their laptops typically already. This is pretty much the same field of view you'd ideally have at your monitor and TV too, so either you use this same preset on all of them, or we're not comparing apples to apples. Or you just really like to get closer to your laptop specifically, I suppose.