Apple caught all sorts of hell for releasing the iPad 4 so soon after the 3, which they damn well should have. Fuck any company that squeeze people for money with pathetic upgrades way too fast.
The pathetic upgrade in that case was the iPad 3. It's SoC couldn't handle the screen it had and so Apple put out a 9 month stopgap.
In a way, your original Note was a stopgap until devices had SoCs to really utilize the big screen (in ways such as the Note 2's multi-window). It has a fairly recent version of Android on it so I don't really get the complaint.
What Android, iOS nor any OS ecosystem protects you from is if you make bad purchase decisions. If you decide to buy a product as a techy person that is OBVIOUSLY going to be a bad long-term investment because its not balanced (like the iPad 3, or the first retina Macbook, or a Motorola Atrix, or a a Note 1) you can't blame the entire ecosystem.
Normal consumers are conditioned that the second they buy technology its outdated and they don't know what different Android versions are so they are not harmed by this. The only people harmed are techies that want things like updates and then I think its fair to put the burden of responsibility on people who want those things to make smart purchase decisions.