You're right. Well worth the ten minutes. As someone who's spent decades in the apparel industry, I can personally attest to cost cutting because consumers demand to pay the same amount for a shirt or pants that they did 15 years earlier. (In the production department we'd look at the original sample from the design department and the meeting would go something like this: "Let's take the pocket off, use lighter weight fabric, single needle stitch the hems and skip the overlock machine, don't bother with collar stays and ditch the interlining. Ok, we've made our price point."
Undoubtedly, similar conversations take place at electronics and appliance manufacturers.
What he failed to mention is the extraordinary amount of cheap (sometimes coerced or enslaved) labor used to manufacture this cheap, disposable junk in developing nations, and the toll that takes on them and the global environment.
I use (android) cellphones until they stop working - I first turned on my current phone - an inexpensive Pixel that was on sale - in Feb 2021 and it still works perfectly.
Have had to (resentfully) replace TVs that were perfectly good because they weren't "smart" and therefore didn't play nicely with streaming services. Same with a Win 7 computer that aged out but will run business software that is incompatible with Win 10. I just keep it offline and move data between computers using a thumb drive.