I expect most people can buy a phone at this level and run it till it dies or runs out of support. If I don't get 5 years out of a phone now, I feel short changed.
I'm just saying that as a user of a fully-depreciated Pixel 6 I do not see any compelling reason to upgrade, which should concern Google. They obviously would like me (and those like me) to spend money on their new baubles.
Google are the one Android manufacture that don't need to worry, They make their money from advertising and their store, so just having users is valuable.