That's good if you're frequently away from a plug for long periods of time, but that added battery life comes at the expense of some performance.
The only one you need to worry about are the Y series chips, which are optimized for battery life. For laptops, the letters you'll see at the end are Y, U, and H. The letter at the end of the chip name ("U" in our example) is Intel's designation for the chip's purpose.
The i7 chip is always more powerful than the i5, and the difference is greater than the difference between any two chips in the same chip line. The Intel Core i5-10510U is slightly more powerful than the Intel Core i5-10210U, but much less powerful than the Intel Core i7-10350U. This is only true within that chip line, though. The higher these numbers are, the more powerful the chip is. The next two or three numbers ("510") are related to performance. The i5-9510U would be a ninth-generation chip, or one that's probably a year or so older. The first numbers ("10") refer to the generation in this case it's a 10th-generation chip. Intel Core i5-10510U is how a laptop manufacturer's websites might list the type of processor. However, there are free, open source alternatives like LibreOffice, Darktable (Adobe Lightroom replacement), and GIMP (Adobe Photoshop replacement). The catch is that popular apps like MS Office and Adobe's Creative Suite won't run.
Linux: If you don't need MS Office and don't mind a learning curve, you can install Linux on just about any piece of laptop hardware ever created.
Some apps, notably Office, do have Android phone/tablet version you might be able to install on your Chromebook, but I have found Android apps often don't run well. The catch is that apps like Adobe's Creative Suite or Microsoft Office won't run. Chrome laptops (called Chromebooks) are also among the cheapest (and least powerful) you'll find, so the OS is also worth considering if you're on a tight budget.