I had this perspective too when I made the decision to buy one in 2022. But recently what I learned is that their modern gen mainboards often cost between 2/3rds - 3/4ths of a full laptop with the exact same CPU from competitors.
With the amount I have spent on the initial purchase, and now an upgraded board, I would have easily been able to buy two laptops from some other company. I likely would have also ended up having a better display, a better battery than what was available in 2022, newer wifi, and so forth. So no, "upgradability" is not an actual benefit of Framework laptops in my experience.
That aside, I ultimately don't regret my purchase because I did spill a beer on it last year and I was able to fix it for about $50 worth of parts. Framework's value comes almost entirely from being able to repair it and eco-friendliness/sustainability.
FYI, their RAM and SSD prices are often almost double what you can find elsewhere -- at least that's the case in the US. Getting a DIY edition and buying these components separately will likely make the price a tiny bit easier to swallow. Still, spec wise alone it will never be a great value.