As an easy answer: the fewer parts there are, usually the less there is to potentially break down.
A more classic style of toaster can be as simple as a heating element that's triggered by some kind of mechanical timer you set contained within some kind of container. There's much less that can possibly break down with age and burn out. There's no internal sensors, multiple buttons and electronics that can burn out, maybe some sort of WiFi component that might mess up, and more that can go wrong.
Additionally with fewer parts, the manufacturing quality can hypothetically (but not always) be better. It seems easier to get the manufacturing right on a machine with 10 separate components versus say 60.
YouTuber Technology Connections was featured in the recent discussion on diswashing machines and detergents. He's done a video on a lovely ancient toaster, too: https://youtu.be/1OfxlSG6q5Y
Fully automatic brownness selection, and hands-free insertion and pop-up -- all without any electronic chips at all.
Not internet connected, no unsafe touch screen, no chance of software glitches or reprogramming... the list is long. A humble analog toaster is normal, a digital toaster is a step backwards.
Yeah. What I need from a toaster is that it makes toast. I don't need it to order the bread from Amazon Home Delivery. I even more don't need it to open the house door when the delivery arrives. Just make my toast. And when you're not doing that, just sit there and be a paperweight. That's all I need.