They are allowing people to get an additional year of free Windows 10 supported upgrades only if you use a Microsoft account (cloud account) and agree to upload all your user data and settings to the cloud service. If you're already doing so, I suppose it's a good thing. I personally consider it a non-starter.
As for the OP's question, I suppose it's a question of what you do with your PC. I generally would not recommend using any operation system long term if it is no longer actively getting bug fixes and security updates. It means that any vulnerabilities discovered in the OS will simply remain open for exploit. That being said, it wouldn't matter so much on a PC that is not exposed to external networks (IE, the Internet). Given that you're here asking on an internet forum, it suggests that your PC is exposed to at least some external networks.
The good news is that, if your PC was setup with a native Windows 10 license (IE, not upgraded from 7 to 10), then the license is eligible for a free upgrade to Windows 11 - assuming the hardware meets the requirements. Most systems from Intel 8000 series and up shouldn't have any problems being compatible.
