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Api retirement - explain

https://developer.salesforce.com/docs/atlas.en-us.api_rest.meta/api_rest/api_rest_eol.htm

Hi, what happened after sun API retires? Let's say that I made a batch apex class 5 years ago and the API is 22.0. Then the API is about to expire. Do I have to change my code? What if I don't change it. Will it stop working? :) Does it mean that we all will have to update our code after some time, because the API will expire?
VinayVinay (Salesforce Developers) 
You can continue to access these legacy API versions until Summer '23 is released, which is when these legacy versions will become retired and unavailable. When versions 21.0 through 30.0 are retired, applications consuming these versions of the API will experience disruption as calls will fail and result in an error indicating that the requested endpoint is not found and unable to be processed by the platform.

Check below references for more details.

https://help.salesforce.com/articleView?id=000354473&language=en_US&mode=1&type=1
https://help.salesforce.com/articleView?id=release-notes.rn_api_upcoming_retirement.htm&release=230&type=5

Hope above information was helpful.

Please mark as Best Answer so that it can help others in the future.

Thanks,