It’s kinda a warranty on steroids. Covers accidental damage in addition to defect. Coverage is for two years. Since I bought my MacBook towards the end of the Intel run, it’s just a mark of age and moving towards obsolescence. 

I’m pretty sure Apple isn’t spending as much time optimizing for the Intel arch anymore. I wouldn’t either. They’re on their third generation of ARM chips. Thus, things just aren’t snappy like they used to be.