It's a bleak situation. I don't have a Fairphone (after much agonising, I went instead with a used Pixel when I finally decided to retire my previous phone). I love Fairphone's mission and hope they succeed but indeed it is very difficult to justify spending that much on a phone with those specs, particularly when the company is young and so its promises of replacement parts, extended updates, etc, are difficult to assess.

I have played around a bit with pmOS, originally on an early Pinephone (the "Braveheart" model, which was plagued with hardware issues) and more recently on an ASUS MeMO Pad 7 (which at the time was in the "Community" support category but appears to have since been archived by pmOS). Even on devices where it "works", it tends to be slow, buggy, very heavy on battery and some peripherals like GPS and camera very rarely work.

This is absolutely not intended as criticism of the Fairphone, Pinephone or pmOS teams - on the contrary they are doing fantastic and important work. I think the problem is just really hard when you're working against the interests of some of the wealthiest corporations on earth (and governments seem to have zero interest in helping solve it).