My evga 1000w has been going strong for 11 years now. Cheaper power supplies fail often but if you buy quality and oversized they’ll outlast all your other components as they don’t become outdated.

It’s the caps that fail. Electrolytic caps have the highest failure rate of any passive component. My team tries to avoid them in our designs as much as possible. But you’re right, caps in a good design can easily last 20 years, making a power supply the longest lasting component of most builds.

Had the EVGA 1000w fail on me. It did not fail dramatically though, rather it refused to output high power. Got a replacement under warranty