How often should you replace iPads?

I'm curious to know, how frequently should one consider replacing their iPad? Is there a recommended lifespan for these devices, or do they tend to last longer with proper care and maintenance? Are there specific signs that indicate it's time for an upgrade, such as decreased performance or outdated software? Additionally, with the rapid pace of technological advancements, does it become necessary to upgrade to the latest model to stay current with the latest features and security patches? Understanding the balance between cost and performance, how does one make an informed decision about when to replace their iPad?