Not really for the second user though. I imagine a lot of us sell their phones after - those users aren’t getting the benefit of software updates. Things like that also affect resale value so ultimately it does affect the first user.
Ultimately my kids have a £220 iPad Mini 2 that still gets updates and that was bought in 2013.
Google really does need to set an example on this. Not only that but as a web developer we still have to test in Android 4.4 because of the lack of updates and the popularity of that that version. It would be nice to see things move forward and it does seem to be at least one of the reason people make a switch from Android.