Anything made by man has a lifespan. Especially something with stressed parts, like a bow. Think of an airplane wing that gets buffeted up and down. The metal gets stressed and will fail after a certain amount of time.
A self bow with an oil finish will wear out more quickly than a glassed laminated bow with a synthetic finish. My feeling is that most shooters probably wouldn't wear out a glassed laminated bow with a synthetic finish in their lifetimes if it was shot with a reasonably heavy arrow, wasn't overdrawn, and wasn't damaged by dry firing, etc. Byron Ferguson might wear one out, or if you leave one to your children, they might wear one out.