This is not just an Apple thing. Planned obsolescence via stopping software support is an issue across the entire industry.

iPhones generally get 7 years of security updates. Only 4ish for major updates though

Samsungs get 5 years of security updates

Huawei also has 5 years

Samsung watches only get 4 years of support.

Pixel watches get 3 years of support

The Apple Watch 4 came out in 2018 and is losing software updates after 6 years.

My point is this is an issue across the board and needs addressed across the board.