I'm not quite sure how I feel about this. Mechanical equipment lifespan normally follows a well curve. Premature failures from manufacturing defects and improper component installation or commissioning taper off to a period where there is relatively low failure rates with proper maintenance until a certain point where equipment fails from age (fatigue, worn parts etc). If the end user is the one to specify the component, this could be great, you're not paying for unused time at the end of the components life. Some components are going to be replaced on a time schedule regardless of if there is usable life in it or not, some things are better to do on your schedule than a broken components. There is a warranty on the component for the full life of the pump so if you're doing the spacing you can be reasonably assured it will last its required life span or replaced.
On the other hand, if I purchase a piece of equipment from a different company and expect it to last N years, but they are using this component to save money and only opt for it to last M years, and don't disclose the life span, I could end up paying for N-M years of expected service that I don't get to use.
As an aside of other software limited hardware, Caterpillar c-series Diesel engines are software limited to a certain extent. If you need more horsepower call the service tech and they can increase the HP. Disclaimer: I heard this from another marine engineer so don't know if they need to upgrade other components as well or if it's completely a software de-rating.