I manage my schools IT - and when we started out a few years ago my board were pushing aggressively for Chromebooks. The service provider were talking about how they could roll out hundreds of Chromebooks at the touch of a button. When I asked about the lifespan of a Chromebook I got vague answers. I knew we would get a couple of years max out of each one so I instead pushed for much more expensive MacBooks. 5 years on and we are still using our original MacBook we got back then, with photoshop and other software.
Not ideal that we had a percentage of our MacBooks on x86 cpus when the M1’s came out. But I will say they are still running strong. Others have pointed out that newer OS updates won’t work on the older MacBooks. But that’s not a deal breaker for us as we don’t run anything that’s OS specific enough to make the older models obsolete. We have factored in 5 - 7 years of use out of the laptops and we’re on course for that. I myself and using a 10 year old MacBook at home, and although I can’t fire up the latest Adobe Premiere on it, I can certainly get 99% of my work done on it.