I'll quote this statement from Wikipedia - "The increased system requirements [of Windows 11] initially published by Microsoft meant that up to 60 percent of existing Windows 10 PCs were unable to upgrade to Windows 11".
If that figure is true, than realistically, more than half of all Windows users won't be able to upgrade to Windows 11. And let's be honest, most regular consumers aren't going to jump to Windows 11 because of "better security" of because it's horrible feature-creeps (as mentioned by many people above), which is similar to what happened with Windows 10 for a while up until recently.
But let's be generous and say that ~10% of those ~60% of people do end up buying a new PC for Windows 11 leading up to 2025, but that's still ~50% of people that can't feasibly upgrade to Windows 11 or get past Windows 10 in any meaningful way.
There is also a consensus by lots of people out there that most PC's/hardware made in the last decade or so are perfectly fine and usable for most people or business applications, so ripping support in less than 2.5 years time would definitely hurt consumers and/or enterprises in the future if they aren't going to pay up for LTSC (which most probably won't). Not only that but this would also certainly cause more e-waste than anything else (which isn't helping anyone).
Yet another diabolical move by 2020s Microsoft.