Quite hard to justify the cost for short os update support
Agree, they need to provide longer OS or security updates. Even if they provide only 2 OS updates, at least provide 3-4 years of security updates. Samsung is already offering 3-4 years for their mid-rangers and Google is offering 5 years of security updates for Pixel 6a, a mid-ranger
Security is even more important now since a lot of important apps are in the phone, Singpass, banking apps, telco apps, etc. Hackers are also becoming even more intelligent (see how they can impersonate those organizations SMSes). It is not like 10 years ago where you can still get by with an old Android phone with outdated security as long as you don't visit shady sites or download shady apps.