Previously, these phones were only promised three years of operating system updates, along with five years of security updates, the latter of which isn’t changing.
Seems like this adds roughly two years of OS updates but keeps the five years of security updates in place. For those of us on GrapheneOS I think we are reliant on the security updates so won't be affected, but still overall good news!
For reference, Pixel 7 came with 5 years (I felt gipped when 8 got 7yrs as don't want to buy a new gOS compatible), so this is poorly researched. If I've now got 7 years, please let me know...
You don't. P7 came with 3 years of OS updates plus two more years of security updates, now it's just 5 years of OS updates (plus whatever extra security updates GrapheneOS adds on afterwards).