The fact that Apple is still selling the iPhone 3GS makes this pretty ridiculous.
No one found it ridiculous when AppleTV was selling right up until AppleTV Mark 2 came out and it hasn't received a single update since (not even to just add tv show rentals). Boo-hoo and go buy a new one was all the sympathy you could find around here.
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In any case, you might as well just get used to this sort of thing. Apple could easily leave features requiring high-end hardware off for those devices (at least it would ensure apps would continue to work in most cases), but like with 32-bit Intel and PPC before that, they are just abandoning it altogether. It's called "Planned Obsolescence". It's coming to all Apple hardware near you soon. You can expect 2 years from the first release date for an iOS device and 3-4 years for a Mac in the future.
People can argue that developers can support older hardware if they want to, but those of us running PPC machines can attest that just doesn't happen for a lot of software. Once Apple dumped PPC from Xcode in XCode4, the "Unviersal Binaries" started drying up. You can now no longer get an updated Firefox and Chrome didn't even bother to begin with. Everything from Perian to Handbrake to Flash has dumped PPC (and some like Adobe claimed they would be supporting PPC for longer, but then suddenly changed their minds). Some software like Skype and Firefox didn't even bother to point out (let alone do a check) that their newest updates dumped PPC. You had to download it and find out it wouldn't run instead. Mac software support kind of sucks these days.
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Compare that to Windows where most of the software made in 2000 will still run in Windows7 with a few adjustments and even Apple supports XP for its own software whereas they don't support their own OS used through most of 2007 even.
At least 3G supported some versions of iOS 4, although it didn't get much of the new features and made it laggy as hell. Buy a brand new phone today and you won't be able to get the newest OS in few months. Well, I guess it is Apple's way to make money.
In years past, Apple managed to make newer OS revisions FASTER and FASTER than previous versions of the OS (up through Tiger). Mac users used to make fun of Windows for getting clunkier and slower all the time. This came to a peak with Tiger Vs. Vista. Man did Windows take a beating for a being a POS OS when Vista came out.
NOW it's just the opposite. Leopard was noticeably slower in almost all areas than Tiger, particularly the user interface (even with acceleration). You might not notice if you bought a newer and thus faster computer, but it was obvious on all computers that ran Tiger.
Snow Leopard was promised to be an optimized more efficient (and thus we assumed faster) version of Leopard. This sounded like great news. Maybe Leopard was clunky because of the rush to transition from PPC to Intel. Surely Apple would get it right this time! The problem is that Snow Leopard was even slower than Leopard except perhaps in cases of extreme multi-core use (i.e. my dual-core late 2008 MBP measures slower in nearly all areas with Snow Leopard than regular Leopard). Instead of updating OpenGL to full 3.x or better yet 4.x, they added and greatly HYPED the USELESS OpenCL instead (show me any significant mainstream programs that even use it, years later).
Does anyone here seriously expect Lion to be faster than Snow Leopard? I don't. I expect it to be slower, encumbered by slapping on iOS features on top of regular OSX. Apple puts most of their development time into iOS these days so there is no real time to optimize anything ever and Steve refuses to hire more staff to do both. Even Leopard got delayed for months on end because Apple was too busy working on the first iPhone and couldn't give a crap about OSX proper.
Meanwhile, Windows7 learned from Vista's mistakes and it's a big step up from Vista. It's comparable to XP in speed and a heck of a lot more secure and only going to get more so in the future. It took Microsoft a long time to shape Windows from NT to modern OS, but it's pretty much there. Apple seems to be going backwards in speed and stagnating in appearance by comparison. I'm already at the junction point where I'm not sure I really care if I run OSX or Windows7. Yes, OSX still has vastly less malware, but I've never gotten a virus on WindowsXP even ever. Factor in gaming keeps moving forward for Windows (and Xbox360 ensures easy conversions and/or dual development from huge titles there) while Steve Jobs isn't even sure what a game is, let alone makes any attempt to develop OSX to support them and I figure the future is cloudy at best. I'll certainly have Windows on my next Mac for dual-boot. The question is where I will go from there.
If Apple doesn't start to get its act together and move Macs back ahead of PCs for general computing (instead of spending all its time on phones and tablets), I can't help but see Windows in the future. I don't want a PHONE for my primary computer! I don't care if it's a 'truck' in Steve's eyes. I want a freaking truck baby! And I want it decked out at that.