IMO the underlying factor in all of this is what is "reasonable." Yes, the price of some of these products with lifetime warranties is artificially inflated to account for and recoup the losses of dishing out new products to the "moochers." Although I'm not sure "moocher" is the best term...they are justified in asking for a new replacement...after all it was a lifetime warranty. That said, I agree...I'd have a hard time calling up and asking for a new pair of waders (insert rod, reel, etc, whatever) after I got what I felt was "reasonable" use out of them. Obviously the term "reasonable" is a moving target...I'd expect a little more from a $400 pair of waders than a $100 pair, and it would clearly depend on how much I used them, and how I used them.
Somewhat off topic, but the same concept. Two years ago (during the opening week NFL Kickoff Thursday night game - I kid you not!) my Sony LCD TV blew an LCD panel and I lost the bottom third of the picture. At the time it was 15 months old, Sony's warranty on the TV was 12 months. I called anyway, and was calm and polite and had a productive conversation with the customer service rep. The entire basis of my argument was that I felt it was reasonable for me to expect a $1,000 TV to last longer than 15 months. I even came out and said that if this happened to a TV that was 8 or 10 years old, I wouldn't have even called because then I would be being unreasonable in expecting them to owe me anything toward replacing it...I would have gotten a "reasonable" amount of life out of the product at that point. Anyway, the service rep agreed, and after securing an estimate at a Sony approved repair shop that confirmed the TV was totalled, they offered to replace it. They didn't make my model anymore, and its replacement had a few bells and whistles mine didn't, so I had to pay the price difference of $180 or so. I felt this was fair on their part...I was getting a better TV than I had, so I should have to pay for that difference. Clearly I wasn't happy with Sony when the TV broke, and if they didn't offer some kind of compromise, I wouldn't have bought another one from them, but in the end I now have even more confidence in them...because they were REASONABLE!