Your basic premise is wrong. It is never to late to apologize. Because it is never to late to ask for forgiveness.

Apologies are meant to give some sense of closure to those that have been wronged. By your logic you would deprive anyone of that potential closure simply because an arbitrary amount of time has passed.

You are free to not accept an apology but that is on you.

In the end it simply says more about your character than the person giving the apology.