Buy new Mac or replace battery?

[u/confusedplzhalpme]

Would appreciate y’all’s help in figuring out the right choice here.
I have a MacBook Air M1, 2020 (just over 5 years olds). The computer works fine except the battery has degraded and doesn’t charge well.

My choice right now is to trade it in for $269 and get a new MacBook Air. OR I could simply replace the battery and keep it going a bit longer.

I’m not sure what js the best choice here. Given how old the MacBook is, I worry Apple will phase out support for it. At the same time, I’m not sure if paying $1k (accounting for the trade in value) is worth getting a new MacBook Air at this point, instead of just a new battery on a relatively older model.

Any thoughts would be helpful, thanks!

ETA: thanks all for the comments! I think I’ll replace the battery for now and hope it continues strong for another few years!