I've been doing smart home stuff since 2015. Not surprisingly, over the years, I've picked up more than a few gizmos that weren't exactly ideal for a full smart home integration. I got them either out of ignorance (particularly those early purchases!) or because something better hadn't come out yet. Some of those items I've replaced, but not all of them. Because even though not everything is ideal, it's not really as big a deal to me that the light for the coat closet takes a couples second to turn on because the door sensor is a bit slow and I've got a make a call out to the cloud to actually turn on the light; it's a bit annoying but it's just the coat closet.
So I'm wondering how everybody else approaches this kind of thing. What are your criteria for replacing/improving on "old" tech (lights, switches, sensors, whatever) that still function but maybe not up to whatever your current standards are? Do you always get the newest devices as they come out? Do you wait until your old ones fail entirely? Until the manufacturer no longer supports them? Until the new tech not only outperforms the old tech, but at a cheaper price?
I'm genuinely curious what approaches other people take.