It's alright, whatever the reasons might be, but let's not pretend there are no other ways out. I'm content with newest LineageOS on my 7 year old mid-range Xiaomi. I don't mind the loss of privacy guarantee. I don't have to spend any extra 350 euros and lose the headphone jack in the process.
An end-of-life Xiaomi device with no privacy or security patches for the firmware, Linux kernel, drivers and HALs for years doesn't provide the bare minimum for protecting user privacy and security.
It would theoretically be possible to port it to a newer kernel but that's not within the scope of LineageOS. It doesn't do that so there aren't Linux kernel updates since the kernel branch has been end-of-life for years already. It would also theoretically be possible to rewrite all the userspace drivers and HALs, but it's not being done. The firmware is a different story since it's usually signed and requires vendor support. It's important too since it's exposed to remote attacks via cellular, Wi-Fi, Bluetooth, NFC, GPU (web browsers, etc.) and more.