As products get faster, more powerful, and less expensive, it is expected that we will use them longer. I'm sure Apple knows this.

Like you, I bought the M1 Air. It might well be my last computer (I'm 74). My phone is an iPhone 11. I'll upgrade that to get 5G, but I'm in no hurry because 5G isn't deployed much around here. My watch is a Series 5; I'll upgrade that when its battery goes.

This is what many people will feel, but we are all on different schedules, so I'm sure Apple will do just fine.