Frankly at $280, I don't care. But Moto has said they'll do android 13 at a minimum and they did well on my 2019 power so they've earned my trust I'll get 3-4 years of security updates. And compared to flagship prices I can take 4-5 updates even at every 2 years and still come out ahead. Even more if you include inflation.
Are you sure it will keep working fine after two major updates or it will slow down terribly?