I can’t believe people are even discussing this.
When you purchased the phone, you had all the technical information available to check prior making your purchase. You knew it has a 5000 mAH battery, a 6.67″ Super-AMOLED display with 395 ppi, a single 50 MP main camera with an aperture of f1.8 and a 1/1.95″ sensor, IP52 rating, no NFC and no E-SIM. You also had the info right from the beginning the update policy says two years of major updates and three years of security updates:

When you made your purchase, you pretty much agreed the delivered specs - including the update policy - are good enough for the price tag, if they wouldn’t be, you should have skipped the purchase and chose a different phone which comes closer to your expectations.
Complaining now afterwards is something I simply can’t understand. If Nothing would fail to deliver on their policy, it would be a different matter. However they gave you two major updates and they still will supply security updates until summer 2027, so they are staying true to the update policy they advertised to you.
I purchased the CMF Phone 1 for my brother two years ago, when his old phone suddenly broke after many years of use. The poor update policy was actually the most major reason why I had a very hard time deciding to make the purchase.