That's interesting because I have a toolbox full of Craftsman tools that came with a lifetime guarantee.
I gave up on Craftsman years ago. The last time that I had a guarantee problem, it was a 13mm socket that had split. They didn't have any replacement sockets so I walked out without a new socket. That was maybe twenty years ago. The time before was probably thirty years ago and I had an issue with 3" aluminum C clamps breaking. Some woman working in hardware ( I think that she transferred from lingerie because she didn't know anything about tools or hardware) balked at replacing the broken clamp, saying"if you keep bringing these clamps in for replacement, how are we supposed to make a profit?" I replied that "if you made them properly, I wouldn't keep bringing them in." I told her that I would take the cheaper 3" cast iron instead. I still have that cast iron clamp.
It is a huge fall from a company that was the mainstay of rural America a hundred plus years ago to the pitiful company it now is. IMO, the marketing strategy has been been to transform from a company that could meet virtually any conceivable need to a bunch of boutique departments with the slimmest of offerings. Small wonder that they are in the financial mess they're in