They serve different markets. Laser printers are lightning fast, cheap per page, and provide extremely high quality text printing. Their output is also water resistant compared to consumer-grade inkjets. However, screening/dithering algorithms for laser printers are positively crude compared to modern photo inkjets, with resolution that can't begin to compete.
The one place where color laser printing has an edge is for high-volume "good enough" printing of booklets, calendars or brochures. The per-page cost is cheaper, but quality is not in the same league with a good inkjet. You can make an argument for a color laser printer if you're doing mock-ups of a printed book for example. It's just not that good for final output.