To me, lifetime warranty means if the product has a manufacturers defect that causes it to fail during the agreed-upon terms (usually explained on the customer agreement paperwork, aka receipt), then it should be replaced for free.
If the item wears out, that is not a defect of the manufacturing process.
No receipt to prove the agreement, no warranty. There are stipulations for a reason. And I should have a responsibility to withhold to meet the warranty requirements. And accountability if I don't.
Ford used to deny warranties if you didn't use 5w20 oil, as specified. Even if it was hard to find. Too bad. You bought a Ford knowing it took a hard-to- find oil, you knew how often you had to change it, and you knew you had to prove you did all this per Ford's warranty requirements. I don't blame Ford for denying a warranty if I didn't uphold end of the deal.
Valvoline had a 300,000 mile warranty available for free, just by registering and following their requirements. I bet most people who signed up didn't follow these requirements. Not the fault of Valvoline.
Many warranties only offer one replacement. Why? Very doubtful two items in a row will fail due to a manufacturers' defect.