Yes.
Hardware vendors love Open Source. It essentially cedes all control of the market to them.
They spend minimal time/money/effort on software development and updates because surprise, surprise --- it doesn't produce profits, it consumes them. Hardware is where they make all their money.
The only realistic way to get long term software support on Android is from Open Source. This means installing a replacement, 3rd party Open Source ROM. This is the first thing I do when I buy a new phone --- and I won't buy a phone that doesn't have good 3rd party support.
I have a Moto G4 Play from 2016 that gets regular software updates running e/OS. The last update was May 14th. This is my backup phone (I have a backup for everything that is considered "essential").
My primary phone is a Moto One 5G Ace (2021) which also has excellent support from e/OS and it's currently cheap as dirt considering the hardware specs. Only $129 from Amazon with 6GB RAM, 128GB storage, Snapdragon 765 processor, 2 day battery and microSD expansion.
If I accidentally leave it in an Uber or drop it in a toilet, it's sad but no big deal. I just switch to the backup until the replacement arrives. Try that with your $1000 iPhone.