for all intents and purposes, the CPU in your old S20 is more than capable of handling basically any daily mobile task.
the A11 in my iPhone X (2017!) was more than enough, and didn't skip a beat, even with intense usage like playing games or streaming multimedia content over LTE. i only had to upgrade to a 12 mini the other day because the my X got so beat up over the years, and it would've cost more to repair than to just replace the thing.
i love my new phone, but does it really do anything my old one couldn't? the camera, screen, design are definitely better... but other than that...
and the 12 mini is already a year and a half old! i got it used, and i couldn't possibly distinguish this from a brand new flagship phone, in terms of performance.
smartphone manufacturers can't rely on consumers needing to upgrade bi-annually to continue using their phone in an optimal way. so they need to change their economics to keep making a profit.