From looking at their website, that is 8 years of software updates. Not 8 years of Android version updates. Apple has released security updates for 10 year old devices such as iOS 12.5.7 which released in 2023 and runs on iPhone 5s.
FP5 owner here. IIRC, this is a guarantee for security updates at least, yes. There was some promise on how many major android updates they guarantee I think, but I forgot the details. I also wonder if and how far the promised minimum will be exceeded.
That said, I am just glad Fairphones are usually relatively well covered by open source versions of android and other operating systems. Even if I may need another phone for banking apps and all that annoying stuff in 2030 or so, I can at least safely re-use it for other purposes. My "old" Android is now nothing more than an offline mp3 player, which is kinda sad.
