Life time warranties do contribute significantly to a buy it for life decision. Lets take automotive tools. I use mainly Gedore tools to maintain my vehicles. A few years ago I found a clapped out, worn, ratchet in a second hand toolbox I bought. Took it to my local dealer to find out about replacing the mechanism and they outright replaced the ratchet with a brand new one. At no cost to me and I was not even the first owner.
My own set Gedore of sockets and spanners are still in perfect condition after 20+ years of use. Yes I paid double store brand prices back in the late 90s for them, but I am sure they will be heirloom tools one day.
It really depends on what you are buying, but lifetime warranties does contribute to the decision.
I have a set of 6 virtorinox steak knives from the 90s, that turned into general purpose kitchen knifes. They are now finally starting to become blunt. The black platic handles are smooth from use. 30 years on, ithink the time is approaching for them to be replaced. And that is only because I cannot sharpen the serated blades.