What's the point of buying new phones every years?

Other than your carrier give it for free or cheap, I don’t really see the reason why should you buy new phone. I’ve been using Redmi Note 9 for past 3 years and recently got my had on Poco F5. I don’t see the point of my ‘upgrade’. I sold it and come back to my Note 9. Gaming? Most of them are p2w or microtransaction...