I recently had a iron fail. The power cord shorted. I had noted the bad design only after I got the iron and had been waiting for this. When it happened, I quickly unplugged the iron.
The bad design was that when the iron was set down in the upright position, it was resting partly on the power cord. Eventually, the power cord fatigued at that point, and I saw a flash.
My new iron does not have this same design flaw. (You can bet that I checked!)
My first iron lasted about fourteen years. Any after that have lasted maybe five years at most. I will not be a repeat customer for a badly-designed product, but sometimes, it is hard to find something that will last and know that that is what one is getting.