Collaborative 2 of 3 multi sig is elite AF in my books. I find it to be the perfect balance of security trade offs for many people. Definitely worth digging into :)

If your private key never touches the internet / your hardware wallet has never been plugged into the USB port of an internet connected mobile phone or computer and your seed-phrase backups haven’t been compromised I don’t see any reason to upgrade hardware devices every 1-2 years.

Unless: you are having issues with your current hardware wallet, the hardware wallet company has had security issues or data breaches or the device you want to get is a significant improvement on what you have.