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Going from the i5 to the i3 seems like a downgrade, because the latter is lower-end than the former, but in reality it's more of an upgrade, because the i3 is Tiger Lake (11th gen), while the i5 is Haswell (4th gen).
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There are some more upgrades over the specs of my old laptop; see the screenshots. Keeping in mind all the new laptop's specs, when I say upgrade, it actually is. As a comparison, Minecraft on the new laptop runs at around 50-100 FPS, while on the old one at just 10-40 FPS.