Apple is worth more than AMD, Intel, Nvidia, Netflix, Disney, Walmart and Bitcoin combined

Still getting updates on my S8 - had it for 4 years now.

It all comes down to the company that your phone is through. Some only support updates for a few years, others go out 4 or 5 years.

As time goes on and updates to iOS or Android or Google or Windows continue, eventually older hardware and/or older software versions runs into limitations that don't make sense to continue to spend money to support them. So, updates become less frequent or updates can cause performance issues on older hardware. It just makes sense to eventually halt updates because that old hardware, while some may still be in operation (and they still work without updates) eventually wear out (usually the battery is first to go) and repair places don't have parts to fix them.
Those are security updates and they have also stopped this year I believe making the S8 very vulnerable and unsuitable for corporate use. This isn’t the same as getting the latest versions of Android and all its features. I believe the S8 received one update of this nature. The S8 is also lauded as one of the best for receiving updates, despite having quite a poor update history.

By contrast, the iPhone 8, released in the same year is still receiving the latest versions of iOS and will do so for another couple of years.

It makes sense for the manufacturer to stop updating phones, it means users will buy new ones from them. But it’s a disgusting strategy from the uses perspective.
 
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