In the past, I’ve always made a conscious choice not to try to do it that way on Android. Getting a new phone is a good chance to reset, only install apps that I specifically still use, etc.
But in the past, I’ve always replaced a phone because the old one was so old the battery couldn’t get through even one day, so I had plenty of time to manually back up and take care of any specific data I really needed to be sure about. Recently, I had to get a new phone prematurely after I crashed and landed directly on the old one. So I did use the Pixel’s restore functionality as I upgraded from the broken Pixel 6 Pro to the new Pixel 7a. And it was completely seamless. Kept me logged in to apps that I never thought would stay logged in, remembered wifi passwords, everything.
Of course, all of that was only possible because I casted my screen to my TV and plugged in a mouse and keyboard. The screen was too broken to approve the transfer otherwise.