While this is applicable to a lot of things such as appliances and cheap furniture, I wouldn't apply it so broadly as a rule. Plus, many new things just haven't been around long enough to tell. 5 years is absurdly short for a car, most seem to last between 15 and 30. I have several working computers, cell phones, and game consoles between 5 and 20 years old.

The trend of making computers and phones nigh-unrepairable glass sandwiches is awful though, as soon as the battery or other major component is toast the device is practically worthless. It's infuriating how far backwards we've gone in that aspect.