kopolee11 The Pixel 5 is not yet end of life.
Thanks for the correction!
It is still true that transferring from one GrapheneOS device to another is a pain, still true that the expected support lifetimes of all 6/7/8 devices are much longer than the plausible 5 lifetime, and still true that the 8 devices have distinctly better hardware security than 5/6/7.
Personally, Google's unofficial extension of 5 support seems more like welcome news for people who have already been using one than like a strong case for investing time in setting one up. But everybody's circumstances are different, and I expect there are a lot of 5's out there at very low prices. Having them be useful and secure for longer is a good thing.