To be fair, mandatory warranty has added a lot to that.

Most larger electronics (washing machines, fridges, dryers, ovens, etc.) have a mandatory 5y warranty in most european countries, and since the profit margins are so low, even the cheapest washing machine (~250eur range) has to survive the daily use of a family with three kids (or even multiple daily uses) for at least five years, since even a single replacement/repair eats away profits of dozens others sold.

"back in the time", you'd skip the cheapest stuff, now i just say "buy the cheapest one, it'll work for at least five years", and in 99.9%, it's actually true.