In some cases yes, in others no. As much as I love my new electronics I still play my 14 year old Xbox One, read on my 2012 Kindle Paperwhite and use multiple 5+ year old laptops that function almost the same as they did (running Linux helps). 3 years is not really the lifetime of most consumer electronics anymore...at least outside of the latest GPUs.
The latest GPUs will also be functional for longer than 3 years. They may or may not still be economically efficient for LLM companies to operate.