Microsoft supported Windows XP for 12 years, Windows 7 for 10 years (+4 years if you are willing to pay for extended support). During the lifespan of XP the Moore's law was very much working.
You are saying that as long as the OEM updates drivers for components support is possible. I agree. This is a reason why Android is often not updated even in the modding community (Qualcomm is not releasing drivers). If only Apple was responsible for both the software and hardware... Oh wait...