Well, it has the same rough performance as a GTX 1080 Ti, a five year old card. So that would say it should stay somewhat relevant for at least that long. Probably won't be a game that comes out in the next five years that it won't run at a playable frame rate. 12GB of VRAM is a decent amount of memory and shouldn't cause any problems for many years yet. GPU performance is well above what I would call entry level. The RTX3050 is quite the step down, but still what I would call a high end card (somewhere around the 1070 or 1070Ti performance levels)
1080p ultra in recent games certainly. 1440p may require some lowering of settings, but still certainly playable above 60 FPS at good quality. Really depends on the game.
Really this just speaks to how the GPUs have been growing in size while the process node shrinks, which is keeping power requirements high. But if you look at the light cards like the GTX 1650 Super, that is still a lot of performance for not a lot of power compared to previous generations.
If the RTX3050 is going to be the bottom tier gaming graphics card for a while, that is a very impressive option at least to me.