No, your laptop also connects to the hotspot. If you have available wifi at your location, you can then setup the pi to use that wifi and disconnect the phone hotspot, and just use the local wifi on all devices.
Ive just found this to be the simplest setup. I briefly had serial over bluetooth set up, and it was an easier way to change the pi’s wifi, but it broke pretty quickly for me not sure why.
Probably the most elegant solution is ethernet over usb, but thats a bit of a pain to set up.