Good point! Some years ago (1990s?) Consumer Reports ran a long-term test comparing conventional oil to synthetic.
The test vehicles were NYC taxi cabs, which CR presented as the ultimate example of hard use.
CR tore down and inspected the engines after x number of miles, and, finding comparable wear, concluded that synthetic oil wasn't worth the extra cost.
Living in an area with cold winters, I was skeptical that an engine in a mild climate that was run almost always at operating temperature was subjected to worse conditions than an engine that was frequently cold-started and short-tripped, as is often the case here.