Last August I got a refurb base M4 Max Studio for about $1,700 (got it from the Apple Japan refurb store while I was visiting there). Sure, the M5 Max is faster and all that but I’m still very happy with this machine. I don’t think I’d notice any difference in my day to day workflow.
The most demanding things I do are lots of VMs, a little video editing, and some light gaming. My Studio still works flawlessly and I don’t expect to need to upgrade anytime soon, especially considering the price increases compared to what I paid.