I am currently shopping around for new truly wireless headphones for iphone and not a single comparison has apple airpods/pro as winners in 2 most important categories (for me but I believe for many others too): sound quality and battery life. Same for their smartwatches but thats another topic.
Apple, or any company, sees that even product with such flaws still sells very well, so there is little pressure to fix things asap. That some engineers somewhere are working on next gen (or even 2 next gens in parallel) is expected, but these generational updates are very iterative and never revolutionary (that's what new product lines are for, for much higher price).
One anecdote from today - had a year end review call with my boss while being on sick leave due to covid. He desperately tried to pair his new iphone 13 pro max with his new airpods (not sure if pro or regular) and gave up after some time. It just didn't work and we had good old phone-in-hand call.