I think this is where we get into the "long enough" aspect. The million mile Ford van for example, which of course was fitted with a 2V modular, an engine with a reputation for longevity, was not in "peak health" near the end of its life, consuming oil and experiencing blow-by, but it DID get there.
If you look at the HD truck engines, ones that are fitted with centrifuges and high end filtration, it is not uncommon for these engines to easily eclipse the million mile mark still in perfect health, despite a life of much harder work. Doug Hillary's random tear-down analysis at 1.3 million km on his OTR DD truck engines (fitted with centrifuges and high end filtration) showed components (liners, bearings) that measured "as new" at that mileage.
Just like API-approved engine oils are designed to keep the ring land area "clean enough" (not spotless), the parameters for the various API test protocols have limits on the allowable amount of wear. They don't mandate what is effectively zero wear, but an "acceptable" amount, the same goes for OE filtration. What is "good enough".
And this works. Cheap API approved oil and filters will take a vehicle a long way. In the vast majority of cases, long enough to satisfy the expectations of the owner of the vehicle, and when it's down on compression and using a bit of oil late in life, they will be OK with that, because they feel they received acceptable service at minimal cost.