You mean the platters.
As for that being bad, not always. Many high performance drives (10k and 15k rpm) have small platters because they are much more stable at high speeds. Also small platters give much better seek performance. You lose a bit of sequential speed (the desktop drives make it up by spinning faster) but most tasks aren't sequential transfers so that's not a huge deal. Laptop drives tend to have other factors such as being lower power which also limit performance. But unless you're really ragging it, with a decent amount of ram the performance should be just fine.
Incidentally angular velocity is the same (rpm measures angular velocity so all 7200s are the same), it's linear velocity that's lower with smaller platters.