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Google is discontinuing the Chromecast line
(www.theverge.com)
This is a most excellent place for technology news and articles.
I think it's perfectly reasonable to not expect a company to perpetually support a sub-$100 device. Especially if said device has been around for 5+ years at least.
I agree with you that it would be foolish to believe that any company would support a cheap device perpetually but I think it should be common practice (or mandatory) to open the software so that people can extend the life of these devices. Generally speaking, as a species we cannot afford to waste electronic devices simply because the software is not up to date.