I'm a cyclical buyer of Mac products, in that I buy a new machine every other cycle of releases (more or less). This also generally is in sync with the expiration of Apple Care (3 years) which, for laptops, is a really good investment.
Some of the other reasons for doing it this way include:
a) always having up to date tech that never is overtaxed by the newest software.
b) the resale value on Macs is really quite, quite good (you can easily get a good percentage back reselling on eBay or even through Apple's return program)
c) it enables me to plan budget-wise over a 2-3 year cycle to have enough money when the new machine is introduced.
I just purchased two new MBPros for my kids yesterday and yes, I probably would have preferred to wait until the new processors come out (rumored Q4 2020) but their existing machines will fall out of Apple Care warranty in a few weeks, they are incredibly hard on the machines (one is coming back from the Genius bar today), and the Apple return pricing is giving me about 40% off the cost of the new machine, plus the student discount and free AirPods (which I was about to buy for me anyway, so score $150). I'm also worried about the first-gen tech as will be the Q4 2020 Macbooks, though I am kind of excited about the new chips.
As always, check the "When to buy a Mac" listings for the current rumors and update times. This is really an essential site:
https://buyersguide.macrumors.com/#mac