I bought the FP3, then upgraded it to an FP3+ when the camera broke. Never had as much fun with a phone before or since. It has been my daily driver for years and it did everything well enough, if a bit slow. My friends either get new phones or use them despite visible damage because they can't fix them. Now I ordered the FP5 to have the 3+ as a backup and test setup and I am confident I will use the FP5 for 3-6 years again :)

Fairphones are like an odd car: There are sleeker, faster, cheaper and maybe just better alternatives around. However you still like it and just learn where to hit it with a hammer when it starts making funny noises. If you can afford it and like odd devices, it's for you.

Depends on what you're using the phone for. Personally, my usage isn't very demanding, so having a phone that's going to have security updates and a replaceable battery will probably let me use the phone for 5+ years.

I probably won't keep the phone for 10 years, but it means I can upgrade on my schedule, not just because some company decided for me.

I've had a Fairphone 4 for just under a year running CalyxOS, and I am very happy with it. Not sure when / if CalyxOS will be available for FP5, but unless they have locked down anything, I don't see why that shouldn't happen. If I understand your post correctly, it is already available with e/OS/?

Maybe the specs are underwhelming, but with the FP4, it does not affect me the slightest based on my use case. Phones are more than good enough already. I do not play any games on my phone. Camera could be better - maybe it is on FP5? Is it the perfect phone? Nope, but at the moment, I think our choices are too limited if you want privacy and repairability. Supporting a company that pushes these kinds of phone is also a reason I went with this phone.

Swapable batteries are nice - I've not made use of it yet, but I am planning on getting one or two spare batteries for travel to keep in a printed case. In the EU, this will be mandatory in the future, but first form 2027. Other than that, I am happy with the ability to buy spare parts if something breaks. I can't see myself ever buying something that is deliberately unrepairable again when there is no reason it should be. I don't mind the lack of 3.5mm-port, which I know irritates a lot of people. If you swear to this, I can understand that this is disappointing. There exists an adapter, but my experience with these kind of adapters is that they quickly wear out. That was my experience with the iPhone and Apple's own adapters at least. I burned through four in 1-2 years.

If you're not a power user, then it'll probably work fine for several years. And it will be cheap and easy to replace the battery in 3-5 years when it starts to degrade, or replace the screen if you drop it. Not sure if a full 10 year lifespan is realistic, though.

And you're right, the price is high, but it's not supposed to be an affordable phone. The stated goal of the Fairphone is to be better for the environment and better for people than most other electronics. So, they have to do things like use sustainable materials and source parts from places that treat their workers well. All of that means that Fairphones will NEVER be as cheap as other brands. Because doing things right costs more.

I believe that the price is reasonable overall: it has good specs and now that FP is an established brand you know it won't go out of business and support will last. /e/OS has become good enough lately to be reliable to daily drive (it requires some initial adjustment, but nothing to be worried about).
Also, they are phones that withhold their value in the secondary market: a used FP3+ on ebay costs more than 400€ and it had a launch price of 439€, so you can easily sell them for a good price if you ever change your mind about owning one.
The only thing that makes me hesitant to buy one is the fact that now the EU is pushing a lot of consumer friendly laws, like mandatory USB-C, replaceable batteries, extended software support and so on... So in two or three years the smartphone market might offer more high-end products that are long lasting and have a more accessible price tag. It only depends on how much time can you wait.

Edit: added links to sources

Had the fair phone 4 since launch running e/os, then there was an update that was rinsing the battery so I went back to stock android. Performance just wasn't good on stock so i got fed up and got an s3 ultra. No more privacy but never had a better phone. Now the fair phone is just collecting dust; I like the idea of it but just needs a bit more juice

No.

No headphone jack, no buy. It's not a question of whether a headphone jack is useful to you, it's just the principle of it - there's no good reason to remove it (especially for the asking price of FP5), and more importantly, it goes against what the Fairphone stands for, IMO. I can understand if it were some other profit-driven company making a shrewd business decision, but for Fairphone to do it, seems very unfair to me.

Since we are in a privacy subreddit, I will say that Fairphone is second only to the Google Pixel in terms of support for privacy focused versions of Android. For privacy specifically, they are a great choice.