It’s a bit annoying (I know I’m still not getting it on mine despite the announcements), but their handling it of major updates (performance wise) have been decent on my end. I do love my FP5, but it’s a bit hit and miss according to experience I read about online. I know my experience of their headphones (the most recent ones, the wireless buds) has been horrendous but I would recommend the FairPhone personally.
They come out with all the security updates (anywhere between 2 weeks and a month after Google pushes them out). They don’t wait for a feature update to push out security updates.