Yes and no, Fairphone has actually managed to reverse engineer some of the drivers for its old phones to provide android upgrades years after the component manufacturers have dropped support. The Fairphone 2, for instance, received a little over 7 years of support and 4 major version upgrades, skipping one on the way. For the Fairphone 5, they've promised 10 years of software support, and judging by their track record, I believe them. They also open source as much as they can and even give instructions on how to build the OS yourself.

Of course, open source drivers would be better, but that doesn't exist at the moment, unfortunately. At this point, Fairphone is one of the companies that comes closest (with Shiftphone being a close rival).

That said, I like FP very much, but it'll eventually hit the software block.