Until it breaks. Which it will. It's not a long term solution. But what it comes down to is that Apple is simply not a long term platform. It's more like Nintendo, you are expected to migrate and rebuy software (if they choose to offer it) that you want with each new generation.

They don't break more often than old consoles do - which happens of course, but not as often as one might think.
The technology was quite rustic back then, it's even possible to replace chips by hand or capacitors (these are the weak point in most machines, they either run out or judder).
I modified my XBoxes back in the days and now also know a couple of guys who are very good when it comes to repairing old hardware. The retro market is more active than ever.
If I kept my broken Amiga back then, now I would have a working machine.

Since the consololes from the 70s still work, I am not all to worried about seeing chips die of old age.

There are consoles from this year that have already broken. There's variance. But CPUS are generally rated for about 10 years of use. Your odds diminish significantly past that point. Plus who needs the clutter of every console and compatible display from the 70s until the current day. It would not be practical for most people that's for sure.

I don't know how good the production of PS5 and the latest XBox is. I know that all modern consoles have the same flaw that our graphic cards have. If you don't limit the frame rate, then under certain circumstances they can overheat if they got nothing to do.

But the 68x CPUs sitll work flawlessy after 30 years and my Athlon still works as well. Never had a CPU break down in all my now almost 40 years of working with computers. Other components ... sometimes (joystick controller chip, sound card, graphics card, usually stuff with external ports), but never a CPU.
The older the hardware/console, the higher are the chances that it can be repaired if it's damaged.

But sure, having 200 consoles in his appartment is not for everyone and it also isn't for me. I have a few consoles, including a Evercade (running emulated arcade games) and I built a pong console from a minikit myself (nothing fancy, even the module was already programmed). But I play mostly on PC. It's convenient clicking the link to Bubble Bobble or Turrican and play, rather then booting different systems. Just for playing, these emulations are fine.
I know people however who have the space to do that and it's something special to be in a spacement with history all around you. It's definitly something else.

100% of the ~700 games I bought from GOG are compatible with my 64-bit OS (a Debian Sid).