This is one of the worse scams that Apple perpetrate with iOS admins iPadOS - yes, the devices get updates for as many years as specified. However, basically all apps available for iOS and iPadOS only support the two latest versions of the OS, meaning that once your device is out of support, it functionally becomes a brick after one year, as no apps will support it anymore.
Android has a worse record of keeping the OS up to date on devices, but app developers on Android routinely support 10 or more versions back of the OS, making this problem less severe.
This is one of the worse scams that Apple perpetrate with iOS admins iPadOS - yes, the devices get updates for as many years as specified. However, basically all apps available for iOS and iPadOS only support the two latest versions of the OS, meaning that once your device is out of support, it functionally becomes a brick after one year, as no apps will support it anymore.
Android has a worse record of keeping the OS up to date on devices, but app developers on Android routinely support 10 or more versions back of the OS, making this problem less severe.