Kind of....but I think there is a middle ground.
I accept that obviously there will be iterative improvements to new products, possibly as early as 6 months later. This freaks some people out...but it is just the nature of tech.
However, I don't like to take a risk on untried new technology, however much it has been hyped up in pre-reviews.
I bought a new MBP14, but only after a pretty extensive period of research and waiting for any negative conclusions from long-term reviews (i.e. after about 3 months). I got somewhat burned (almost literally
) buying the MBP16 in 2019 after seeing rave reviews about how it "fixed" all the problems with the older models. Only a couple of months later did people start complaining about the thermal performance, and then how the AMD 5600M GPU "fixed" all the problems with the 5500M and overheating when using the GPU.
YouTube review cycles tend to go from the (iJustine-like) excessive "OMG - this is a game changer!" videos...followed by..."10 problems with product x..."....and then "Why I made a mistake buying product x....".
If you get passed those phases, and back it up with some more serious in-depth reviews from places like AnandTech, plus actual user experience reports on forums such as this one, then you can get a reasonably clear picture of whether there are any serious issues with the new release.
I also think there is an optimal time to get on board with a product release cycle. To get maximum use out of a new product, you would ideally buy it at the beginning of its lifecycle, and upgrade after the release a new version, one or more generations later. Obviously buying an M1 a month before the predicted release of M2 would be sub-optimal unless (a) there was a good chance that M2 would have some hidden defect or (b) you got the M1 at a large discount. But you also don't want to take unnecessary risk by being an early adopter of brand-new tech.
In the case of M1 Pro/Max, my calculation was that it was based on M1, which had been very successful, so wasn't really a completely new-generation, and that it was likely to be an 18-24 month release cadence, so it made sense to buy immediately after the initial launch hype had cleared up, and after the machines had been battle-tested by thousands of real users.
So far, my calculations have been correct - it's a fantastic machine