When I started my trade in the early 90's, I had a craftsman 1/2 drive ratchet. A guy who worked alongside me had a "MasterCraft" ratchet, that honestly looked identical. One would swear they came off the same machine, same assembly line, outta the same factory. One just had a different name than the other.
Each also came with a "lifetime warranty" where you just bring it back to the store, and they exchange it for a new one, no hassles. Obviously my store was Sears, whereas his store was Canadian Tire. Which had been (essentially) a step up from Harbor Freight, in comparison.
Thing is though, his ratchet broke on average, 4 times a year. Which means that he had to use something else till the end of the day, then drive to the store and exchange his tool, then drive home. That takes time, and gas money. Not to mention the inconvenience. Add that up over the years.
Most times it was the 'gearing' inside that would strip. Sometimes it was the actual 1/2" square that would twist right off the face. Once, it was the outer ring housing that cracked. All kinds of different failures. Each time, his ratchet was replaced with an identical model, and it still looked like my Craftsman one.
I still have that same ratchet, to this day. Almost 30 years later. Says something about tool quality, for actual users. Next question I have, is do they still (Craftsman) have the same 'warranty' exchange program that Sears had?
No, I don't need a new ratchet. I've a few pin punches though, that were over-hardened and shattered.