This court case shows that we kinda now already have one.
The phones from 5 years ago already had amazing processors with billions of cycles per second. They can probably do nearly everything.
But you know us software engineers: "make it faster till it runs wells on my test kit, then oh well ship it!"
I think this ruling is a nudge into a better way. Yes deplay updates for more than 2 years, but don't stop optimizing new stuff when the latest phone can run it pretty well - keep optimizing until devices from the last 5 years run it very well.