At work my manager still rocks an old Motorola g5 plus. He says phones have reached peak performance and there's no point of upgrading. Hes a humble, down to earth guy also make $210k/ year.
The problem is that there are security updates that those old phones need and aren't getting. The whole "let's tie the operating system binaries to the hardware" thing was always dumb, somehow Windows can handle binary-blob drivers that aren't built into the OS.