I did that only yesterday to upgrade from 22.04 LTS to 22.10, and now my laptop doesn’t boot.

So it doesn’t always work.

I am strongly considering trying Arch instead.

I haven't used Ubuntu in a few years now, but anecdotally, do-release-upgrade has failed on me more times than I can count (in both server and desktop environments).

Our experiences are different. Before I switched away to a rolling release distro (Manjaro) a couple years ago, I used Ubuntu and would perform the upgrades from one Ubuntu point release to the next. My success rate (something either moderately or critically not working after the upgrade) over those last couple years was probably about 25%. Always needed to wipe clean and reinstall, restore from backup. Tons of lost productivity. All that stopped when I went to the rolling release.

I've heard too many horror-stories of major OS upgrades and even service packs back in XP and Vista days.

New distro versions for me equals a clean state to make sure everything goes smoothly :p I have commands and notes that let me re-deploy within an hour on most distros, like these for Fedora: https://wiki.realmofespionage.xyz/distros:fedora_workstation...