Exactly.
And to add, a device is NOT obsolete when the next generation debuts.
The iPhone 4S, which launched in October 2011 is still fully supported today by the most current iOS. Even the iPhone 4 (2010) can still run iOS 7, which will meet requirements for the vast majority of apps in the App Store.
Will the Apple Watch be "obsolete" when the second generation debuts, likely next year? Of course not. Will it be "obsolete" in three years when we're likely seeing the third or fourth generation? Again, of course not.
This mindset of year, two year, three year old devices being "obsolete" simply because they don't have every feature of the newest model is absolutely shooting mankind in the foot. It's become a vicious cycle of waste, both environmentally & financially, in an effort to keep up with the Joneses. It used to be the hardcore Mac / tech geeks that planned on upgrading their devices every year or two, partly because of fandom but mostly because of a need for the best processing power. Now, thanks to wholly ignorant statements like "this will be obsolete when the next model comes out", we're seeing this ideology across almost all users. Mom and pop are buying new devices every year or two, college kids are trying to get new smartphones every year or two, etc.
Sigh.
<steps off soap box>
edit:
Disclaimer... I typically upgrade my personal iPhone every other year (often skip the S releases) and my personal Macs every 4-5 years. At work (Mac Admin / Apple IT professional) this cycle is much shorter, however a large part of my job is evaluating new hardware/software for use as it becomes available. I advocate the same as I preached above for my end users though, sticking to a minimum of bi-yearly iOS device replacements (though I encourage longer) and 3-4 years for Macs. At work I listen to music in my office via a 3rd gen iPod (the touch/click wheel model) on an Apple Hifi, and use an old Apple Pro keyboard (clear w/ black keys) to type on one of our Mac servers, etc. It's up to YOU to decide when a device is obsolete, not your friends, not the media.