Company X makes a great product that everyone only needs one of and lasts a long time. Over time, the market starts to dwindle and. Company X is going broke. Now, Company X must either invest in innovation or reduce the lifespan of its current offering.
There's nothing inherently evil about this concept, but we tend to want to chalk it up to greed when Company X really just wants to survive and make a profit, which I suppose is the point.
The problem is the concept is ripe for abuse. If Company X makes their product worse, but starts charging more while laying off employees, posting record profits during recessions, adopts unnecessary subscription models cosplaying as continued service and development, etc...now we get to the greed part. There seems to be a line between designing a product to secure the longevity of Company X and straight up using your customers as micro-transaction ATMs with planned obsolescence. Some companies conspire to cross it.