For example, I have an iPhone 11. I got it the day it came out, and I really don't need another phone. I will continue to use this one until it breaks, or probably for another 5 years, whichever comes first.
Maybe for some people, it's beneath them to buy an older, even if it's professionally refurbished and warranted, but to me that says something about the quality.
Last example. My brother in law was once complaining to me about how Apple is trash and that they purposely slow down their phones and that it's all a conspiracy. I asked him what phone he had and he told me an iPhone 5s! I was so impressed that he didn't even notice how outrageous this was.