How does a tv become obsolete? I'd imagine the smart tvs can be updated.
The same way an ipad becomes obsolete.
Yes, the operating system can and will be updated, for a period of time. Most of these updates won't mean much, as far as the Tv is concerned. They often are done to try and get you interested in watching things they have a vested interest in, or to add advertising to your screen saver. Eventually they will stop supporting it.
But, for example, the screen technology improves from time to time, generating a better, brighter picture. That's not upgrade-able.
You can now get 8k resolution fairly commonly. That's not an add on. 8k is of course, better. But, it's currently not being used. What's good about it is, this requires the Tv to have a faster processor, because the 8k files are much bigger. And, if the Tv has good up-scaling, you can get better, smother video, at the lower more common HD, and 4k resolutions. If the 8k standard ever does take off, you will be ready.
My Sony is 4k. And, though I rarely use the 4k, That processor gives me remarkable picture quality, i.e. No blurry, or pixled video, during fast action, when watching football. And, the up-scaler in the processor makes even old video, shockingly detailed compared to what we were used to when it was originally shown. Did you know, Uncle Joe on Petticoat Junction, had liver spots on his forehead? And, no it's not all been remastered, in HD. It is often that much different on a good Tv.
And, the truth is, the vast majority of people can't see the difference, or they really don't care. So, a $500 Tv is perfect for them.
If you are unable to "calibrate" a television, (adjust the setting for optimum results), you may not ever get it set up to give you the best picture it can. This also needs to be done separately for each input the Tv has, to get the best results.
There are forums on the internet, that owners of the better Tv's discuss how they adjusted theirs for the best quality. And, they will give you their settings. These are often good starting points. The Geek squad also does in home calibrations, if you want to pay someone like the rich do.
Don't worry though, the last few new Tv's I did for people, were amazingly easy to set up, and looked very good at the factory settings. They also had multiple picture options to try. And, you can always revert to those factory settings, if you get lost, playing with it.