Depends on what your needs/wants are.
Generally speaking, the hardware is pretty good, and should be able to handle any games/apps thrown at it for the next several years. Mobile games rarely push graphical advancements, due to needing to work with as many devices as possible (including both Android and iOS).
Software wise? That's where things get questionable. We have no idea if the phone will officially get Android 12, and who knows how long ASUS will provide security updates for it. Though, that's kind of a fault with all Android phone manufacturers (except Google themselves, and Samsung seems to be decent with updates).
Now, if you're willing to experiment, there's always the option of unlocking the bootloader and installing a custom ROM. There seems to be a few I'm development for the phone, and custom ROMs tend to be supported for a long longer than official ROMs... At least, of there's still demand for the device itself.
Aside from that, the other issue you'll face in the long-term is battery degradation. Lithium-ion batteries lose maximum capacity over time, so you're going to eventually find yourself where each charge lasts a shorter and shorter amount of time. My general experience is it becomes noticable after 2 years. There's the possibly of replacing the battery, but you'll likely want a professional to do that (due to how nearly every phone manufacturer no longer thinks user-replaceable batteries are necessary).
