The Galaxy Nexus came onto the market in 2011 so this is considered to be a really old handset now; however it is getting the Android 7.1 Nougat update, so it is going to have new life breathed into it.
The Galaxy Nexus has been kept up to date thanks to developers offering ROMs and the latest to take it to Android 7.1 Nougat is from Unlegacy-Android project. They are giving it a chance among newer handsets even though the Nexus isn’t being supported officially anymore for updates.
The ROM has been seen in the forum of XDA Developers and it has been said to be stable, however there is some issues with GPS and mobile data. All other critical features are said to work and be fully functional.
The last official update for the Galaxy Nexus was Android 4.3 Jelly Bean. The handset has done very well over the years when you take into account that most phones are only supported for around two years.