So tires with 2/32nds will have better grip in the rain than warmed up fresh ones? They just get better until they pop? That must be the reason why race cars only use heavily worn tires instead of fresh ones when they race. Engine lubricant is better at 5,000mi than 1mi?
You only bother buying heavily used motor oil and tires right? After all they perform so much better.
And springs and shocks are perfect examples of things that start to lose their effectiveness on a curve instead of necessarily just all at once. You can tell the dampening effects get worse and worse, the car might start sagging more, etc. They have a whole range of performance before they need to be replaced.
Even the motor itself will often slowly have reduced compression due to slowly looser fitting parts before actual failure, fuel injectors will slowly get more gummed up over time, valves might get gunked up having reduced airflow, spark plugs are slowly vaporizing themselves and can have worse spark characteristics throughout their life, etc. Its not like everything just continues working 100% until they snap. Everything that's moving or reacting is slowly wearing itself out.