I actually find M1 Air class performance still more acceptable for all my usual dev tasks. I might only need a beefier machine for the extra RAM if I'm spinning up a lot of VMs. Otherwise though, the raw CPU performance is still quite fine.
I've been using the same PC that I built in 2013 continuously since then. Every four or five years or so I'll buy one part in the $500 range to keep it updated. It's currently got a Ryzen 7800X3D, 32GB DDR5, and a Radeon RX 6700XT, so it's easily outperforming a brand new $3000 Macbook Pro in most workloads that I actually care about.
My initial investment in it was $1200. My total investment over the last 12 years has been about $3000.
Buying disposable computers simply does not make any financial sense to me.
As for camera lenses, I expect my collection of manual focus F-mount Zeiss primes to have a longer useful life than their owner.