Your logic is almost laughable. At 75 hours a year for 21 years, that’s less than 1600 hours, that’s nothing. Even at 100 hours a year you barely break 2000 hours; I would hope it’s still running strong or I’d be mad as a hornet. When do you suppose that oil pump develops the most oil pressure? When do you suppose the cooling fan moves the most air over the engine? What happens to oil as it heats up? What happens to oil pressure as that oil heats up? Over time, what happens to an engine that constantly runs hotter, and with lower oil pressure? And finally, why do you suppose B&S recommends running that engine a rated RPM under load?
Actually Del, your splitter is a classic example of why it’s a bad idea to grossly overpower something with a small air-cooled gasoline engine.