I run a small machine shop, and while I agree that you're opinion is closer to reality it's absolutely not out of the ordinary for a precision metalworking lathe to fail entirely and be dead weight until repair; it's not all gracefully easing into imprecision.
Older lathes, for example, love to put the AC motor under something that either accumulates or produces chips; you can see why this might be a problem over time. It's not out of the ordinary to require motor re-winds.
Older lathes, for example, love to put the AC motor under something that either accumulates or produces chips; you can see why this might be a problem over time. It's not out of the ordinary to require motor re-winds.