I'm still running a Samsung Note 20 Ultra which is coming up on five years old. I specifically bought the phone brand new over a year after it came out. I actually had to hunt to find a new-in-box unit. The reason is it's the last high-end Galaxy that has removable storage in the form of a micro SD card. I've replaced the battery but otherwise it looks and works great. I've looked at new flagship phones but they don't have any features I care about. They don't run apps noticeably faster, the battery life isn't noticeably better and the camera doesn't take meaningfully better photos. Yet I'd have to spend a few hours getting it all configured and then learning and dealing with the new model's inevitable quirks.

One reason people who could buy anything are choosing older tech over the newest releases isn't nostalgia or to save money, it's because a lot of new tech products are regressing as useful features get removed to increase profit margins, enable some trendy style or new business model. Hell, it's getting hard to even buy a TV without built in "smart" features and advertising that can't be disabled.